CANADA STOCKS-TSX rises as materials and Rogers gain ground

Mon Oct 17, 2016 10:58am EDT
 
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* TSX up 32.6 points, or 0.22 percent, to 14,617.59

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

TORONTO Oct 17 (Reuters) - Canada's main stock index rose on Monday, led by gains for the materials group and for Rogers Communications Inc after it named a new chief executive officer, while financials and energy also gained ground.

The Chief Executive of Rogers, Guy Laurence, is stepping down effective immediately and will be replaced by former Telus Corp executive Joe Natale as soon as possible, the Canadian telecom company said. The surprise move came as Rogers also posted a sharp fall in net income after it shut down the streaming television joint venture Shomi.

Its shares rose 1.4 percent to C$55.11, while the overall telecoms group firmed 0.3 percent.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.7 percent.

Teck Resources Ltd rose 4 percent to C$25.65, while Barrick Gold Corp was up 0.8 percent at C$20.77.

Spot gold firmed 0.4 percent as the U.S. dollar dipped after reaching an earlier 7-month high.

At 10:46 a.m. EDT (1446 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 32.6 points, or 0.22 percent, to 14,617.59.   Continued...