CANADA STOCKS-TSX rises as financials and Blackberry gain ground

Wed Sep 28, 2016 10:58am EDT
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* TSX up 65 points, or 0.45 percent, at 14,623.04

* Seven of the TSX's 10 main groups rise

TORONTO, Sept 28 (Reuters) - Canada's main stock index rose on Wednesday, led by the country's heavyweight bank shares, while BlackBerry Ltd rallied after announcing a strategic shift away from hardware.

The Canadian technology company said it will outsource the development and design of its flagship smartphone. Its shares rose 4.5 percent to C$10.88.

Some of the most influential movers on the index were the country's bank stocks, including Royal Bank of Canada, which rose 0.7 percent to C$81.34, and Toronto-Dominion Bank , which advanced 0.6 percent to C$58.27.

The financials group gained 0.6 percent.

Gains for financial stocks followed a rise in European shares as the Chief Executive of Deutsche Bank said there was no need of a cash call.

Federal Reserve Chair Janet Yellen did not comment on the outlook for the economy or monetary policy in her prepared remarks for a House of Representatives Financial Services Committee hearing.

The energy group climbed 0.6 percent as oil prices firmed.   Continued...