CANADA STOCKS-TSX ends higher as banks gain, Goldman fears ease

Mon Apr 19, 2010 5:00pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX gains 0.27 percent to 12,102.97

* Financial shares up 0.85 pct

* Energy nearly reverses losses (Updates to close)

By Ka Yan Ng

TORONTO, April 19 (Reuters) - Toronto's main stock index ended higher on Monday as financial shares gained on positive U.S. earnings and economic data, and commodity stocks pared early losses triggered by last week's fraud charges against Goldman Sachs.

The charges against the financial powerhouse initially shook stocks and commodity markets for a second consecutive session, and took the Toronto index down nearly 1 percent to its lowest in more than three weeks.

But heavily-weighted financial shares helped push the index into positive territory late in the session, supported by expectation-beating results from U.S. bank Citigroup C.N and a larger-than-expected gain in an index of leading U.S. economic indicators. [ID:nN19175994] [ID:nN19163699]

Royal Bank of Canada RY.TO, the country's largest lender, gained 0.99 percent to C$62, and No. 2 Toronto-Dominion Bank TD.TO rose 1.1 percent to C$76.97. Overall, the financial sector gained 0.85 percent.

There was also relief that no new lawsuits against other big banks emerged on Monday, and market players were able to focus on corporate results and the economic recovery.   Continued...