CANADA STOCKS-TSX rises, building on Monday's rally, led by financials

Tue Nov 17, 2015 11:23am EST
 
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(Adds portfolio manager quote, updates prices, updates details)

* TSX up 24.54 points, or 0.18 percent, to 13,342.06

* Six of the TSX's 10 main groups were higher

By Fergal Smith

TORONTO, Nov 17 (Reuters) - Canada's main stock edged higher on Tuesday, building on Monday's rally, led by strength in heavyweight financial stocks and helped by positive sentiment created by better-than-expected earnings from U.S. retailers.

"After you have a blowout day like you did yesterday and then you had eight days in a row prior to that of dropping, one has to wonder if it is a dead-cat bounce or one has to wonder if there is follow-through, and so I can understand the market being tentative today," said Barry Schwartz, portfolio manager at Baskin Financial Services.

At 11:06 a.m. ET (1606 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 24.54 points, or 0.18 percent, to 13,342.06.

Of the index's 10 main groups, six were in positive territory.   Continued...