CANADA STOCKS-TSX up as BMO beat boosts banks, gold miners jump

Tue Feb 23, 2016 10:40am EST
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(Updates prices)

* TSX up 51.84 points, or 0.4 percent, at 12,897.47

* Six of its 10 main sectors gain

TORONTO, Feb 23 (Reuters) - Canada's main stock index gained on Tuesday, as a rebound in gold prices boosted miners of the precious metal and better-than-expected Bank of Montreal earnings lifted financial company shares.

Bank of Montreal shares advanced 1.4 percent to C$74.90 after it posted higher quarterly profits, boosted by growth in its U.S. retail banking business.

The overall financials group gained 0.4 percent.

Another of the most influential gainers was Valeant Pharmaceuticals International Inc, which rose 9.8 percent to C$114.40 following a two-day selloff.

The company said it would restate results for 2014 and 2015 after identifying some sales to drug distributor Philidor Rx Services that should have been recognized only when the drugs were dispensed to patients.

At 10:10 a.m. EST (1510 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 51.84 points, or 0.4 percent, at 12,897.47.   Continued...