CANADA STOCKS-TSX rises over 1 pct, led by bank and energy shares

Fri May 5, 2017 11:46am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX up 171.51 points, or 1.11 percent, to 15,568.21

* Nine of the TSX's 10 main groups rise

TORONTO May 5 (Reuters) - Canada's main stock index rose over 1 percent on Friday, as a rebound in oil prices drove energy stocks higher and major lenders posted robust gains.

The most influential movers on the index included Bank of Nova Scotia, which rose 2.2 percent to C$76.82, and Tourmaline Oil, which added 5.9 percent to C$27.59 after the energy company reported strong quarterly earnings on Thursday.

The overall financials group, which accounts for more than a third of the weight of the index, gained 1.0 percent.

Home Capital Group, Canada's biggest non-bank mortgage lender, climbed 4.0 percent to C$6.25 after it announced that Alan Hibbens would replace co-founder Gerald Soloway on its board.

Soloway had been accused by regulators of making "materially misleading statements" to investors, and on Thursday its shares slumped more than 12 percent on a regulatory hearing to investigate the matter.

The oil and gas companies' sector rose 2.3 percent.

Suncor Energy Inc ticked up 1.7 percent to C$42.47, while TransCanada Corp, which reported better-than-expected first-quarter results, rose 1.5 percent to C$63.60. Encana Corp added 3.0 percent to C$14.75.   Continued...