CANADA STOCKS-TSX rises, helped by pipelines, earnings wins

Tue May 2, 2017 5:10pm EDT
 
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(Adds portfolio manager comment, updates prices to close)

* TSX ends up 44.02 points, or 0.28 percent, at 15,619.65

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

By Alastair Sharp

TORONTO, May 2 (Reuters) - Canada's main stock index rose on Tuesday, helped by gains for several companies whose financial results exceeded expectations, including e-commerce company Shopify, and by gains for pipeline companies.

Enbridge Inc, Canada's largest pipeline company, added 1.2 percent to C$56.94 and TransCanada Corp, its second-largest, gained 1.4 percent to C$64.25.

Pembina Pipeline Corp rose 2.4 percent to C$43.04 after announcing on Monday it would buy smaller rival Veresen Inc in a C$9.7 billion ($7.1 billion) stock-and-cash deal.

The broader energy group fell 0.4 percent as oil prices fell to a five-month low.

E-commerce software maker Shopify Inc jumped 7.4 percent to C$113.94 after reporting a 75 percent jump in revenue and upping its full-year sales forecast.   Continued...