CANADA STOCKS-TSX up as CP Rail earnings beat; energy, bank stocks support

Thu Apr 20, 2017 10:43am EDT
 
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* TSX up 101.93 points, or 0.66 percent, at 15,654.81

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

TORONTO, April 20 (Reuters) - Canada's main stock index rose on Thursday as Canadian Pacific Railway Ltd jumped on an earnings beat and as energy and many financial shares also gained.

Canadian Pacific was the most influential gainer on the index, adding 3.6 percent to C$209.32 after it reported higher-than-expected quarterly profit as it earned more from shipments of commodities such as grain and coal, and expressed optimism that demand was improving.

Its rival, Canadian National Railway Co, rose 1.4 percent to C$100.11.

At 10:17 a.m. ET (1417 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 101.93 points, or 0.66 percent, at 15,654.81. Nine of its 10 main groups gained.

The energy group climbed 0.7 percent, as oil prices steadied after steep losses in the prior session. Canadian Natural Resources Ltd rose 1.0 percent to C$44.14.

The financials group rose 0.5 percent.

Those two sectors together account for more than half of the index's weight.   Continued...