December 20, 2016 / 3:37 PM / 7 months ago

CANADA STOCKS-TSX rises as oil, bond yields climb; BlackBerry gains

3 Min Read

(Adds details on stocks and sectors throughout and updates prices)

* TSX rises 31.85 points, or 0.21 percent, to 15,301.70

* Six of the TSX's 10 main groups gain

TORONTO, Dec 20 (Reuters) - Canada's main stock index rose for the fourth straight day on Tuesday, led by the financial and energy groups as oil and bond yields climbed, while shares of BlackBerry Ltd advanced after the company posted better-than-expected earnings.

The Canadian smartphone pioneer, which has gone through a wrenching transition in recent years, reported adjusted earnings of 2 cents a share, which came in ahead of analysts' expectations for a loss of 1 cent a share.

BlackBerry shares rose 2.2 percent to C$10.57, while shares of label and packaging maker CCL Industries Inc surged 16.6 percent to C$264.50.

CCL said on Monday it would acquire the U.K.-based Innovia Group of companies for about C$1.13 billion.

Financials gained 0.5 percent as bond yields climbed, with Toronto-Dominion Bank advancing 0.4 percent to C$66.98 and Manulife Financial rising nearly 1 percent to C$24.70.

Higher bond yields reduce the value of insurance companies' liabilities and increase the net interest margins of banks.

Energy rose 0.5 percent as oil prices climbed on forecasts of a steep draw in U.S. crude stocks that could indicate global oversupply is starting to shrink.

U.S. crude prices were up 0.8 percent at $52.56 a barrel, while Suncor Energy Inc rose 0.7 percent to C$44.11.

At 10:16 a.m. EST (1516 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 31.85 points, or 0.21 percent, to 15,301.7.

Six of the index's 10 main groups were higher.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.4 percent, with Franco-Nevada Corp falling more than 4 percent to C$73.60 and Barrick Gold Corp down 1.5 percent at C$18.81.

Spot gold fell 1.1 percent as the U.S. dollar rose and investors sold on expectations of stronger global economic growth and higher U.S. interest rates, while deadly attacks in Turkey and Germany failed to spur safe-haven buying.

Amaya Inc founder David Baazov said he had ended talks to buy the Canadian online gambling company because some shareholders were demanding a higher premium.

The company's shares fell 3.3 percent to C$18.74.

The value of Canadian wholesale trade rose far more than expected in October as sales of building materials jumped and motor vehicle sales hit a record high, data from Statistics Canada showed. (Reporting by Fergal Smith; Editing by Paul Simao)

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