CANADA STOCKS-TSX boosted by BMO results, U.S. data

Tue Aug 25, 2009 4:40pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX up 130.56 points, or 1.21 percent, at 10,920.53

* Bank of Montreal results top forecasts, other banks rise

* U.S. data, Bernanke nomination supports equity strength

(Adds official closing numbers, details, quote)

By Jennifer Kwan

TORONTO, Aug 25 (Reuters) - Toronto's main stock index finished the session higher on Tuesday on strength in financial shares after Bank of Montreal BMO.TO kicked off quarterly earnings results for Canada's big banks with a surprisingly strong performance.

Bank of Montreal BMO.TO, Canada's fourth-largest bank, climbed 6.7 percent to C$52.30 after delivering results that surpassed market expectations. [ID:nN24133906]

The results, which could bode well for the rest of country's banks this week, helped lift the hefty financials group 3.6 percent.

Large lenders were among the top 10 most influential movers of the session, led by the biggest bank, Royal Bank of Canada RY.TO, which was up 4.1 percent at C$52.80. Toronto Dominion Bank TD.TO climbed 3.3 percent to C$65.72. Insurers were also strong performers, including Manulife Financial MFC.TO, up 3.1 percent at C$23.09.   Continued...