3 Min Read
* 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.
Canadian Natural Resources Ltd rose 1.3 percent to C$38.99, while TransCanada Corp was up 1.1 percent at C$62.27.
U.S. crude prices were up 0.2 percent at $44.77 a barrel on speculation OPEC members gathered in Algeria could lay the foundation on Wednesday for a production-limiting deal in November, and after another weekly draw in U.S. crude stockpiles.
At 10:41 a.m. EDT (1441 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 65 points, or 0.45 percent, to 14,623.04.
Of the index's 10 main groups seven were in positive territory.
Industrials advanced 0.6 percent, including gains for railroad stocks.
Goldcorp Inc fell 0.9 percent to C$21.26, while spot gold was down 0.4 percent.
Convenience store company Alimentation Couche Tard Inc fell 1.1 percent to C$64.09, while the utilities group dipped 0.3 percent.
Malaysia's Petronas said it would review a proposed C$36 billion ($27.25 billion) liquefied natural gas (LNG) project in western Canada after Ottawa approved the project with conditions to limit the environmental impact. (Reporting by Fergal Smith; Editing by Meredith Mazzilli)