CANADA STOCKS-TSX ends higher, bolstered by banks, energy

Fri Nov 19, 2010 4:52pm EST
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   * TSX up 86.32 points, or 0.67 pct, at 12,956.33
 * Financial lead gains; nine of 10 main groups higher
 * Research In Motion up 2.1 percent
 (Updates to close)
 By Solarina Ho
 TORONTO, Nov 19 (Reuters) - Toronto's main stock index
finished higher on Friday, helped by strong bank issues, as
easing worries over euro zone debt levels overrode concerns
about monetary tightening in China.
 The influential financial group was up 0.84 percent, with
Royal Bank of Canada RY.TO gaining 1.92 percent to C$55.32.
Bank of Montreal BMO.TO rose 1.91 percent to C$60.33 and Bank
of Nova Scotia BNS.TO advanced 1.15 percent to C$54.65.
 "We're just over a week away from when all the financials
are going to start reporting," said Michael Sprung, president
at Sprung & Co. Investment Counsel.
 "There's a lot of anticipation out there that this is going
to be an okay quarter for the banks."
 The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE closed up 86.32 points, or 0.67 percent, at
12,956.33. Nine of the TSX's 10 main sectors finished higher.
 The energy group rose 1.03 percent, with Encana Corp
ECA.TO rising 2.81 percent to C$29.26 and Talisman Energy
TLM.TO gaining 2.43 percent to C$20.22.
 After an initial retreat, the market largely shrugged off
news that China would raise bank reserve requirements for the
second time in two weeks, as it continued its fight to rein in
prices. [ID:nL3E6MJ0N8]
 Markets have worried that China's tightening will cool
growth and cut demand for commodities such as oil and metals.
Fears that European sovereign debt levels could undermine
the global recovery have eased in recent days on expectations
that a multibillion-euro aid plan to end Ireland's debt crisis
will be unveiled next week. [ID:nLDE6AI0QG]
 Research In Motion RIM.TO was another big mover,
finishing the session 2.07 percent higher at C$59.76.
 "It's always hard to tell ... but they've had some good
publicity with respect to companies adopting their new
(PlayBook tablet computer) that integrates well with the
BlackBerry system," said Sprung. [ID:nN17192385]
 ($1=$1.02 Canadian)
 (Reporting by Solarina Ho; editing by Rob Wilson)