CANADA STOCKS-TSX extends 20-month high; financials, industrials rise

Wed Jan 4, 2017 10:34am EST
 
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(Adds details on specific stocks, updates prices)

* TSX rises 78.19 points, or 0.51 percent, to 15,481.22

* Nine of the TSX's 10 main groups move higher

TORONTO, Jan 4 (Reuters) - Canada's main stock index rose to a fresh 20-month high on Wednesday as financial and industrial shares led a broad-based rally and Encana Corp jumped on an improved outlook.

The most influential movers on the index included its biggest bank, Royal Bank of Canada, which rose 1.1 percent to C$92.50, and Encana, which gained 4.7 percent to C$16.81.

The Canadian oil and natural gas producer said it expects its margins in 2017 to exceed a previous target on lower costs and an expected rise in output in the second half of the year.

The broader energy group was slightly lower even as oil prices edged higher.

At 10:16 a.m. ET (1516 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 78.19 points, or 0.51 percent, to 15,481.22.

It reached its highest since April 15, 2015. If the index breaches 15,524.75 it will hit its highest since September 2014, when it hit its record high.   Continued...