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: Quote), 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: Quote) 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: Quote), down 0.8 percent at C$31.15, and a small decline by Toronto-Dominion Bank (TD.TO: Quote), off 0.21 percent at C$76.64.   Continued...