CANADA STOCKS-TSX rises to highest close since Sept 2008

Mon Apr 26, 2010 5:00pm EDT
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* TSX ends up 0.34 percent at 12,280.97

* Royal Bank hits lifetime high on upgrade

* RIM shows new operating system, stock rebounds (Updates with closing numbers, details)

By Ka Yan Ng

TORONTO, April 26 (Reuters) - Toronto's main stock index finished higher for a sixth straight session on Monday, helped by strength in consumer discretionary issues and financials.

Some banks were in favor, particularly Royal Bank of Canada RY.TO, the country's biggest bank, which hit a record high of C$62.25 during the session.

Royal was upgraded to "outperform" from "market perform" by BMO Capital Markets, while Genuity Capital Markets raised its price targets for all of Canada's six big banks. [ID:nSGE63P0Q0] [ID:nWNA9499]

Bank of Montreal BMO.TO hit a 52-week high, ending the session up 0.74 percent at C$65.41.

Overall, the financials group was up 0.11 percent, with its rise kept in check by weakness in Sun Life Financial SLF.TO, down 0.8 percent at C$31.15, and a small decline by Toronto-Dominion Bank TD.TO, off 0.21 percent at C$76.64.   Continued...