CANADA STOCKS-TSX jumps 1 pct as oil supports, investors buy post-Brexit

Wed Jun 29, 2016 10:21am EDT
 
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(Adds details from early trade, updates prices)

* TSX rises 156.02 points, or 1.13 percent, to 13,998.71

* Nine of the TSX's 10 main groups gain

TORONTO, June 29 (Reuters) - Canada's main stock index rose more than 1 percent in morning trade on Wednesday as higher oil prices boosted shares of energy companies and investors bought back into banks after the initial shock of Britain's vote to exit the European Union.

At 10:01 a.m. EDT (1401 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 156.02 points, or 1.13 percent, to 13,998.71.

Nine of the index's 10 main groups were in positive territory, with healthcare stocks marginally lower, and advancers outnumbers decliners by more than 13 to 1.

The broad gains echoed moves higher in Asian and European stock markets as investors bet on central banks going easier on monetary policy in coming months.

The most influential gainers on the Canadian index included some of its biggest banks, with Royal Bank of Canada up 0.6 percent to C$76.83 and Bank of Nova Scotia advancing 0.7 percent to C$64.22.

But Canadian Imperial Bank of Commerce fell 3.6 percent to C$96.83 after it said it would buy Chicago-based PrivateBancorp Inc in a cash-and-stock deal valued at about $3.8 billion.   Continued...