CANADA STOCKS-TSX posts 9-day high as financials, Canada Goose climb

Thu Mar 16, 2017 5:29pm EDT
 
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(Adds portfolio manager quotes and background details, updates prices)

* TSX closes up 41.5 points, or 0.27 percent, at 15,562.41

* Index posts its highest close since March 7

* Five of the TSX's 10 main groups end higher

By Fergal Smith

TORONTO, March 16 (Reuters) - Canada's main stock index rose on Thursday, led by gains for financials as bond yields rose, while luxury parka maker Canada Goose Holdings Inc gained on its stock market debut.

The winter outerwear company's shares ended at C$21.53, a nearly 27 percent gain from its initial public offering price of C$17 per share as it raised C$340 million.

Bond yields rebounded, lowering the value of insurance companies' liabilities and increasing net interest margins of banks. Yields tumbled on Wednesday after the Federal Reserve raised U.S. interest rates but did not flag an accelerated pace of monetary tightening.

The country's major banks were among the most influential movers on the index, with Royal Bank of Canada gaining 0.7 percent to C$97.31, while the overall financials group gained 0.4 percent.   Continued...