CANADA STOCKS-TSX hits 2009 high; financials overcome weaker oil

Tue May 5, 2009 5:21pm EDT
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* TSX up 0.1 pct at 9,880.72

* Gain follows 4 percent rally on Monday

* Financials, up 1.7 pct, lead TSX higher

(Adds details, quote)

By Jennifer Kwan

TORONTO, May 5 (Reuters) - Toronto's main stock index ended slightly higher on Tuesday after touching its highest level in almost 6 months, as a firmer financial sector overcame weak energy issues, which fell as oil prices sagged.

Six of the index's 10 main sectors were higher, including the key financials group, which rose 1.7 percent, and the consumer discretionary sector, up 1.3 percent.

Top advancers included Bank of Nova Scotia (BNS.TO: Quote), up 2.3 percent at C$36.30, and Toronto Dominion Bank (TD.TO: Quote), which climbed 2.1 percent to C$50.39.

Financials shrugged off caution south of the border over the U.S. bank stress test results, due May 7. A source familiar with official talks said U.S. regulators have deemed that about 10 of the 19 U.S. banks being stress tested will need to raise more capital. [ID:nN04553413]   Continued...