January 12, 2016 / 4:07 PM / 2 years ago

CANADA STOCKS-TSX rises as gains for financials, industrials offset lower resource stocks

2 Min Read

(Updates prices, adds details on sectors, stocks)

* TSX up 49.78 points, or 0.4 percent, to 12,369.03

* Eight of the TSX's 10 main groups were higher

TORONTO, Jan 12 (Reuters) - Canada's main stock index rose on Tuesday as financial sector, railway and consumer stocks advanced, while lower crude oil and gold prices weighed on resource stocks.

The most influential movers on the index were heavyweight bank stocks. Royal Bank of Canada rose 1.3 percent to C$71.33, and Toronto Dominion Bank advanced 1.9 percent to C$52.37.

The overall financials group gained 1.1 percent.

Industrial stocks rose 0.9 percent, including a 1.3 percent gain for Canadian National Railway Co to C$74.40, while Canadian Pacific Railway Ltd was up 1.3 percent at C$161.30.

Dollarama Inc rose 4.2 percent to C$74.82.

At 10:39 a.m. EST (1539 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 49.78 points, or 0.4 percent, at 12,369.03. Eight of the index's 10 main groups were in positive territory.

The index fell on Monday for the ninth straight day, pressured by a plunge in crude oil prices. It entered into a bear market last week, down more 20 percent from its all-time high in September 2014.

Energy stocks fell 0.9 percent as crude oil prices turned lower.

U.S. crude prices were down 0.9 percent at $31.13 a barrel, while Brent crude lost 0.4 percent to $31.41.

Goldcorp Inc fell 4.7 percent to C$15.99. The world's biggest gold producer by market value will increasingly have to look for large deposits outside the Americas as these are scarcer than "hen teeth," its incoming chief executive said on Monday.

Canadian miner Eldorado Gold Corp plunged 15.6 percent to C$3.68. The company is suspending much of its mining activities in Greece.

Gold futures fell 0.9 percent to $1,086.2 an ounce. , while the overall materials group fell 2.7 percent. (Reporting by Fergal Smith; Editing by Lisa Von Ahn)

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