CANADA STOCKS-TSX bounces higher as Greece, China hopes calm markets

Fri Jul 10, 2015 11:20am EDT
 
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(Updates market action with details on influential movers and analyst's comments)

* TSX up 95.85 points, or 0.67 percent, at 14,374.34

* Eight of the TSX's 10 main groups rise

By Solarina Ho

TORONTO, July 10 (Reuters) - Canada's main stock index rose on Friday on market optimism that the recent turmoil over the Greek debt crisis and China's stock market dive has calmed down.

Investors were hopeful that last-minute concessions by debt-laden Greece could result in a deal with its global creditors. In China, stocks, which had been plunging on panic selling, found some stable ground after support measures from Beijing appeared to be working.

"Everything's settled down at least for one day. We're in this 'two steps forward, one step backwards'. Today, I guess, we're going two steps forward," said John Kinsey, portfolio manager at Caldwell Securities.

Valeant Pharmaceuticals International, always influential in index moves, rose 2.52 percent to C$290.56, to lead the gainers, while financial names filled the rest of the top five biggest index boosters.

Royal Bank of Canada advanced 1.2 percent to C$76.38, followed by Toronto-Dominion Bank, which added 1.13 percent to C$52.39.   Continued...