CANADA STOCKS-TSX gains with rebound in financial stocks

Thu May 18, 2017 10:56am EDT
 
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(Adds details on specific stocks, updates prices)

* TSX up 35.31 points, or 0.23 percent, to 15,308.99

* Nine of the TSX's 10 main groups move higher

* Materials sector down 1.9 percent

TORONTO, May 18 (Reuters) - Canada's main stock index turned positive after hitting a five-month low in morning trade on Thursday, boosted by a rebound in heavyweight financial stocks, while mining stocks were lower, along with prices of commodity metals.

Shares of the country's largest bank, Royal Bank of Canada , rose 1.1 percent to C$92.54 and its biggest life insurer, Manulife Financial Corp, jumped 1.7 percent to C$23.10 a day after the financial sector slid on worries that U.S. President Donald Trump's pro-business economic agenda could be slowed by political scandals.

At 10:27 a.m. ET (1427 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 35.31 points, or 0.23 percent, to 15,308.99.

It had earlier fallen to 15,164.73, its lowest level since Dec. 7.

Nine of the 10 main sectors were higher, although decliners slightly outnumbered advancers.   Continued...