May 23, 2017 / 3:28 PM / 4 months ago

CANADA STOCKS-TSX rises on financials and BlackBerry but energy weighs

(Updates index and stock movements, details on BlackBerry jump)

* TSX up 41.97 points, or 0.27 percent, to 15,500.43

* Five of the TSX’s 10 main groups rise

TORONTO, May 23 (Reuters) - Canada’s main stock index rose on Tuesday after the Victoria Day holiday Monday, bolstered by bank stocks and a surge in BlackBerry Ltd shares.

BlackBerry Ltd stock jumped 8.8 percent to C$15.27, as investors raised expectations that the technology company’s cyber security and automotive software sectors will post strong growth, an analyst said.

This month’s global “ransomware” attack, dubbed WannaCry, has raised awareness of BlackBerry’s security software business, while Ford Motor Co said late Friday it would start using an “over the air” system to update software on its interactive touchscreen system, which runs on BlackBerry software.

The information technology group rose 0.8 percent.

At 11:03 a.m. (1503 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 41.97 points, or 0.27 percent, to 15,500.43. Of the index’s 10 main groups, half were in positive territory.

The index was tracking U.S. markets, which rose ahead of U.S. President Donald Trump’s first full budget plan that is aimed at slashing government spending and trimming the deficit.

The most influential mover on the index was Toronto Dominion Bank, which rose 0.9 percent to C$63.64. Royal Bank of Canada followed, with a 0.8 percent advance to C$93.76.

The overall financials group, which account for about a third of the index’s weight, gained 0.7 percent.

Energy stocks tempered gains, retreating 0.7 percent as crude prices dipped earlier in the session on news of a White House proposal to sell off half the country’s huge oil stockpile, threatening a future glut.

Suncor Energy Inc fell 1.0 percent to C$42.87, while Encana Corp declined 1.1 percent to C$15.13.

Advancing issues outnumbered declining ones on the TSX by 132 to 111, for a 1.19-to-1 ratio on the upside.

The index posted 11 new 52-week highs and no new lows. (Reporting by Solarina Ho; Editing by James Dalgleish)

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