April 17, 2017 / 2:38 PM / 3 months ago

CANADA STOCKS-TSX rises as banks, miners gain

3 Min Read

(Adds details on specific stocks, updates prices)

* TSX up 62.35 points, or 0.4 percent, at 15,597.83

* Eight of the TSX's 10 main groups were higher

TORONTO, April 17 (Reuters) - Canada's main stock index rose on Monday as heavyweight banking stocks bounced back from a recent slip and several industrial miners also gained as Chinese data showed surprising growth.

The financials group gained 0.5 percent, with Toronto-Dominion Bank up 0.9 percent to C$65.46 and Bank of Nova Scotia adding 0.6 percent to C$76.43. The group had sold off sharply last week, pressured by declining bond yields.

The most influential movers on the index also included Teck Resources Ltd, which rose 1 percent to C$29.60, and Lundin Mining Corp, up 1.4 percent to C$7.44.

The base metal miners gains came as China's economy grew faster than expected in the first quarter as higher government infrastructure spending and a gravity-defying property boom helped boost industrial output by the most in over two years.

At 10:28 a.m ET (1428 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 62.35 points, or 0.4 percent, at 15,597.83. Eight of its 10 main sectors gained, and advancers were outnumbering decliners by 1.9-to-1.

The index fell on Thursday to the lowest in more than two weeks. The market was closed on Friday.

Gold miners weighed even as the precious metal hit a five-month high on rising geopolitical tensions, with Alamos Gold Inc falling 2.8 percent to C$10.64 and Goldcorp Inc down 0.4 percent to C$20.43.

The materials group, which includes precious and base metals miners and fertilizer companies, was little changed overall.

Marijuana stocks fell from last week's highs following the introduction of legislation to legalize its recreational use, with Canopy Growth Corp down 1.7 percent at C$9.76 and OrganiGram Holdings Inc off 4.6 percent at C$2.69.

The energy group climbed 0.7 percent as oil prices recouped losses, with pipeline company Enbridge Inc up 0.8 percent to C$56.71 and Suncor Energy Inc adding 0.7 percent to C$40.98. (Reporting by Alastair Sharp; Editing by Bernard Orr)

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