CANADA STOCKS-TSX rallies broadly, Couche-Tard leads gains

Mon May 4, 2015 11:06am EDT
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(Updates with fresh details, market reaction and analyst comments)

* TSX up 48.5 points, or 0.32 percent, to 15,388.27

* Nine of the TSX's 10 main groups were higher

By Solarina Ho

TORONTO, May 4 (Reuters) - Canada's main stock index rose broadly on Monday on upbeat investor sentiment, with across-the-board gains led by the materials group and Alimentation Couche-Tard stock.

Convenience store operator Couche-Tard was by far the most influential gainer on the index. Its shares climbed 4.3 percent to C$47.46, recouping a chunk of last week's losses, after the company issued a statement to clarify that the Circle K Corp referenced in a Chapter 11 bankruptcy filing in the United States was not its subsidiary.

Barrick Gold Corp was up 1.1 percent at C$16.08, helped in large part by higher gold prices, which rebounded from six-week lows hit last week. Gold futures rose 1.3 percent to $1,189.4.

Other influential movers on the index included Manulife Financial, which rose 1.09 percent to C$22.34, and Bank of Nova Scotia, which advanced 0.4 percent to C$67.11. The heavily weighted financials group, which make up nearly 35 percent of the index's weight, climbed 0.4 percent.

At 10:45 a.m. ET (1445 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 48.5 points, or 0.32 percent, to 15,388.27.   Continued...