CANADA STOCKS-TSX rises, led by Scotiabank after posting higher profit

Tue Mar 1, 2016 11:38am EST
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* TSX up 100.97 points, or 0.79 percent, to 12,961.32

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

TORONTO, March 1 (Reuters) - Canada's main stock index rose on Tuesday, led by financial shares after the country's third largest bank reported a rise in quarterly profit, while domestic data revealed the economy grew more than expected in the fourth quarter.

Bank of Nova Scotia rose 4.4 percent to C$57.18 after it reported a 5 percent increase in first-quarter net income, helped by growth in its international banking business.

Royal Bank of Canada added 1.8 percent to C$70.33, while Toronto-Dominion Bank was up 1.5 percent at C$53.22. The overall financials group gained 1.8 percent.

The energy sector advanced 0.7 percent as oil prices rose to a two-month high. It included a 1.1 percent increase for Suncor Energy Inc to C$33.43.

TransCanada Corp inched up 0.7 percent to C$50.02 after Quebec said it was seeking an injunction to compel the company's proposed Energy East oil pipeline to be reviewed under the province's environmental laws.

Maple Leaf Foods Inc jumped more than 8 percent to C$24.65 after the Canadian pork processor posted a better-than-expected fourth-quarter profit as margins in its prepared meats business improved.

At 11:15 a.m. EST (1615 GMT), the Toronto Stock Exchange's S&P/TSX composite index increased 100.97 points, or 0.79 percent, to 12,961.32. Eight of the index's 10 main groups were higher.   Continued...