CANADA STOCKS-Earnings, Europe auctions lift TSX
* TSX up 37.33 points, 0.3 pct, at 12,026.28 * Seven of 10 sectors on firmer ground By Claire Sibonney TORONTO, April 24 (Reuters) - Toronto's main stock index edged higher in early trade Tuesday, taking its cue from solid domestic earnings and steady global markets after European government debt auctions saw good demand. Canadian National Railway, the most influential gainer, rose 1.4 percent to C$80.50, after reporting late on Monday that its full-year earnings would come in at the top end of an earlier forecast. "I'm very impressed with CN Rail and I'm happy to see CP Rail deliver good earnings after years of disappointments. Of course, they benefited from a mild winter," said Barry Schwartz, portfolio manager at Baskin Financials Services. Last week, CN's smaller rival Canadian Pacific Railway , in the midst of the final rounds of a tough proxy fight, said soaring profit and efficiency gains prove that its growth plan is back on track. CP was up 1 percent to C$74.94 on Tuesday. Other key names on the rise were Royal Bank of Canada , up 0.5 percent to C$56.80, Suncor Energy, up 0.6 percent to C$31.20, and Potash Corp, up 0.5 percent to C$42.63. At 10:12 a.m. (1412 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 37.33 points, or 0.31 percent, at 12,026.28. Seven of the 10 main sectors were stronger including financials, up 0.3 percent, and materials, up 0.5 percent. Energy shares were flat. The market's rise followed news the Netherlands successfully completed a bond auction a day after its government collapsed in a crisis over budget cuts, but investors demanded a slightly greater risk premium as euro zone yields have edged higher. Spanish and Italian bond auctions also were well covered but their borrowing costs rose again, showing political uncertainty remained uppermost in investors' minds. On the Canadian earnings front, diversified miner Teck Resources rose 1.1 percent to C$35.73 after reporting a 13 percent increase in quarterly operating earnings. Celestica Inc surged nearly 9 percent to C$9.09 after the contract electronics manufacturer posted a 44 percent rise in first-quarter net profit and said customer demand is stabilizing.
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