CANADA STOCKS-TSX rises as banks, miners gain

Mon Apr 17, 2017 10:35am EDT
 
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(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.   Continued...