CANADA STOCKS-TSX ends 3-day tumble as banks, gold shine

Thu Feb 25, 2010 5:03pm EST
 
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* TSX index climbs 0.95 percent to 11,631.44

* Banks higher on healthy quarterly results

* Golds gain as precious metal turns higher

* Bombardier jumps more than 7 pct on C-Series deal (Adds details)

By Ka Yan Ng

TORONTO, Feb 25 (Reuters) - Toronto's main stock index closed higher on Thursday after a three-day slide as stronger than expected bank earnings and a firm gold price lifted two of the index's biggest sectors.

The financials group was up about 1.08 percent, spurred by healthy results from Canadian Imperial Bank of Commerce (CM.TO: Quote) and National Bank of Canada (NA.TO: Quote).

The results kicked off earnings season for Canada's big banks, and raised expectations for the rest of the banking group, which will report results over next 1-1/2 weeks. [ID:nN25244939]

All six big banks rose, with CIBC up 3.14 percent at C$69.95, while National gained 1.9 percent to C$59.73.   Continued...