CANADA STOCKS-TSX rises, led by banks as U.S. earnings season kicks off

Fri Jan 13, 2017 5:12pm EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds investment adviser comment, updates prices to close)

* TSX ends up 79.12 points, or 0.51 percent, at 15,497.28

* Eight of the TSX's 10 main groups rise

* Index ends flat on week

By Alastair Sharp

TORONTO, Jan 13 (Reuters) - Canada's main stock index rose on Friday, as higher bond yields and solid U.S. bank earnings helped boost the index's heavyweight financials sector.

The broad gains - resource stocks, consumer names and industrials also broadly moved higher - capped a tumultuous week dominated by uncertainty about the likely policies of U.S. President-elect Donald Trump.

"When Mr. Trump makes a comment about a specific company, a sector, whatever it may be, he moves markets," said Allan Small, a senior investment advisor at HollisWealth. "We should expect this (volatility) more often heading into 2017."

Executives of big U.S. banks expressed optimism on Friday about the outlook for 2017 in their first public comments about quarterly earnings since the U.S. presidential election in November.   Continued...