CANADA STOCKS-TSX rises broadly, as financials lead the way
* TSX rises 0.24 percent to 11,908.73
* Financials ahead 0.62 percent
* RIM wins reprieve, offers India BlackBerry solutions
TORONTO, Aug 30 (Reuters) - Toronto's main stock index climbed on Monday morning, led by rising financial issues, which had retreated in recent weeks on the back of concerns about the global recovery and mixed banking results.
After a wobbly start, the TSX headed higher with financials up 0.62 percent. Royal Bank of Canada RY.TO gained 1.11 percent to C$50.96, while Bank of Montreal BMO.TO rose 1.5 percent to C$58.44.
Toronto Dominion Bank TD.TO and Bank of Nova Scotia BNS.TO, both to report results this week, were up as well.
"The banks are helping the tone of the market. Royal Bank was hit with slower earnings than expected but now it's bouncing back, so it's leading the way. It shows there's a little bit of bargain-hunting going on," said Sal Masionis, a stockbroker at Brant Securities.
At 10:18 a.m. (1418 GMT) the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was ahead 29.01 points, or 0.24 percent, at 11,908.73. That contrasted with U.S. stock indexes, which edged lower on investor wariness. [ID:nN30174144]
Eight of Toronto's 10 main groups were higher, with the exception of the telecoms and utilities sectors. Continued...