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 and National Bank of Canada NA.TO.

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...