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

Tue Dec 20, 2016 10:34am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(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.   Continued...