CANADA STOCKS-TSX rises as railways, pipelines gain

Wed Nov 18, 2015 10:21am EST
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(Adds details, updates prices)

* TSX up 81.99 points, or 0.62 percent, to 13,362.38

* Nine of the TSX's 10 main groups rise

TORONTO, Nov 18 (Reuters) - Canada's main stock index rose on Wednesday, led by railway and pipeline stocks in a broad-based but relatively shallow recovery from Tuesday's slip.

The most influential gainer on the index was Canadian Pacific Railway Ltd, which rose 5.5 percent to C$194.88 after the company made public a proposal to buy Norfolk Southern that it said could help it save $1.8 billion.

Its rival, Canadian National Railway Co advanced 1.7 percent to C$78.32.

The overall industrials group gained 2.1 percent, while the materials group rose 1 percent.

Teck Resources Ltd gained 3.4 percent to C$6.44 after the largest producer of steel-making coal in North America said it would cut its workforce by about 9 percent.

At 9:57 a.m. (1457 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 81.99 points, or 0.62 percent, to 13,362.38.   Continued...