CANADA STOCKS-TSX rises as railways, pipelines gain
(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...