CANADA STOCKS-TSX rises as energy stocks extend gains on oil rally

Thu Dec 1, 2016 10:31am EST
 
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(Adds analyst comment, details on specific stocks, updates prices)

* TSX up 41.77 points, or 0.28 percent, at 15,124.62

* Half the TSX's 10 main groups gain; energy up 3 pct

TORONTO, Dec 1 (Reuters) - Canada's main stock index rose on Thursday as energy shares made further gains with oil prices after OPEC reached a deal to cut output, while investors reacted to divergent earnings reports from two major banks.

Canadian Imperial Bank of Commerce rose 1.9 percent to C$107.95 after the country's fifth-biggest bank reported a better-than-expected quarterly profit, driven by strong performance in its capital markets business.

Meanwhile, the country's No. 2 lender Toronto-Dominion Bank fell 1 percent to C$62.95 after reporting earnings that were in line with expectations.

"In light of earnings produced by some of TD's peers, we would expect relative underperformance on its valuation today, with TD's now noticeably lagging capital ratio likely adding to the pressure," Barclays analyst John Aiken wrote in a note.

The heavyweight financials group gained 0.2 percent overall.

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