May 26, 2016 / 2:58 PM / a year ago

CANADA STOCKS-TSX rises to a 9-month high as mining stocks rally

2 Min Read

(Adds details throughout on sectors and stocks, updates prices)

* TSX up 21.48 points, or 0.15 percent, to 14,075.22

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

TORONTO, May 26 (Reuters) - Canada's main stock index rose to a fresh nine-month high on Thursday as mining stocks rallied, while stronger-than-expected earnings from the country's biggest bank by market value helped financials edge higher.

The materials group, which includes precious and base metals miners and fertilizer companies, rose 1 percent.

Barrick Gold Corp climbed 1.3 percent to C$22.80, while Goldcorp Inc was up 1.6 percent at C$22.22.

Copper prices reached two-week highs, while spot gold edged 0.2 percent higher as the U.S. dollar's rally paused.

Canada's two largest lenders reported an increase in bad loans to oil and gas firms as low crude prices hurt energy sector borrowers and cut into banks' profits.

Still, financials rose 0.2 percent, led by a 1 percent advance in the shares of Royal Bank of Canada to C$80.05. It said net income excluding one-off items for the second quarter to April 30 was C$2.6 billion, or C$1.66 per share, better than the average estimate by analysts.

At 10:39 a.m. EDT (1439 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 21.48 points, or 0.15 percent, to 14,075.22. It touched its highest since Aug. 19 at 14,143.50.

Eight of the index's 10 main groups were higher.

The energy group seesawed as oil turned slightly lower after rising above $50 a barrel for the first time in nearly seven months.

U.S. crude prices were down 0.1 percent to $49.49 a barrel. (Reporting by Fergal Smith; Editing by Phil Berlowitz)

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