CANADA STOCKS-TSX rises with banks ahead of Fed, TD recovers somewhat

Mon Mar 13, 2017 5:11pm EDT
 
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(Adds investor comment, updates prices to close)

* TSX ends up 38.14 points, or 0.25 percent, at 15,544.82

* Eight of its 10 main groups moved higher

By Alastair Sharp

TORONTO, March 13 (Reuters) - Canada's main stock index rose on Monday as financial stocks pushed higher with bond yields ahead of an expected U.S. Federal Reserve rate hike and as some mining stocks gained from higher commodity prices.

Toronto-Dominion Bank was among the most influential gainers, recovering somewhat after a sharp fall on Friday following media reports that staff had been put under pressure to meet sales targets.

TD defended its business practices on Friday and on Sunday reiterated its position that the environment described in CBC news reports, which suggested that customers were moved to higher-fee accounts or had their overdraft and credit card limits increased without their knowledge, was at odds with its practices.

TD rose 1.5 percent to C$66.96 after falling 5.6 percent on Friday, and most other major banks also gained, helping the financials group add 0.4 percent overall.

Financial technology company DH Corp rose 9.2 percent to C$25.16, after Vista Equity Partners said it would take the company private in a C$4.8 billion deal.   Continued...