CANADA STOCKS-TSX rallies at open on bank earnings

Thu Feb 26, 2009 9:46am EST
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TORONTO Feb 26 (Reuters) - Toronto's main stock index climbed more than 1 percent at the open on Thursday, lifted by bank earnings that topped expectations.

The S&P/TSX composite index .GSPTSE rose 107.09 points, or 1.35 percent, to 8,039.39.

Among heavyweight stocks, Royal Bank of Canada (RY.TO: Quote) was the biggest gainer, up 7 percent at C$32.10. The bank reported a 15 percent drop in quarterly profit, but beat expectations after market-related losses and other items were excluded. [ID:nN26542233] (Reporting by Ka Yan Ng; Editing by Peter Galloway)