CANADA STOCKS-TSX rises as jobs, industrial data shine; banks gain

Fri Jun 9, 2017 10:34am EDT
 
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(Adds details on specific stocks, updates prices)

* TSX up 45.68 points, or 0.3 percent, to 15,468.77.

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

TORONTO, June 9 (Reuters) - Canada's main stock index rose in morning trade on Friday, boosted by sharp gains for big banks as employment and industrial data pointed to renewed health in the domestic economy.

But department store operator Hudson's Bay Co slumped 11.3 percent to C$8.53 after the owner of Saks Fifth Avenue detailed a major restructuring plan that will cut 2,000 jobs after it reported a loss that was wider than expected and bigger than the previous quarter's.

The financial sector, which accounts for a third of the index's weight, gained 1 percent. It also rose sharply on Thursday.

Job growth accelerated in May at its fastest pace in eight months, while industrial capacity rose to its highest level since 2007 in the first quarter, separate reports from Statistics Canada showed on Friday.

Royal Bank of Canada rose 1.0 percent to C$94.95, Toronto-Dominion Bank advanced 0.9 percent to C$65.65 and Bank of Nova Scotia gained 0.9 percent to C$78.56.

Alternative lender Home Capital Group jumped 11.7 percent to C$12.16 after a media report that it has attracted private equity bids.   Continued...