April 20, 2017 / 2:43 PM / 8 months ago

CANADA STOCKS-TSX up as CP Rail earnings beat; energy, bank stocks support

* TSX up 101.93 points, or 0.66 percent, at 15,654.81

* Nine of the TSX’s 10 main groups move higher

TORONTO, April 20 (Reuters) - Canada’s main stock index rose on Thursday as Canadian Pacific Railway Ltd jumped on an earnings beat and as energy and many financial shares also gained.

Canadian Pacific was the most influential gainer on the index, adding 3.6 percent to C$209.32 after it reported higher-than-expected quarterly profit as it earned more from shipments of commodities such as grain and coal, and expressed optimism that demand was improving.

Its rival, Canadian National Railway Co, rose 1.4 percent to C$100.11.

At 10:17 a.m. ET (1417 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 101.93 points, or 0.66 percent, at 15,654.81. Nine of its 10 main groups gained.

The energy group climbed 0.7 percent, as oil prices steadied after steep losses in the prior session. Canadian Natural Resources Ltd rose 1.0 percent to C$44.14.

The financials group rose 0.5 percent.

Those two sectors together account for more than half of the index’s weight.

Lending activity to small Canadian businesses dipped in February, though borrowing by medium-sized firms rose for the fourth month in a row on strength in the construction sector and oil-related provinces, data showed on Thursday.

The country’s largest lender, Royal Bank of Canada, rose 0.5 percent to C$95.62, and Toronto-Dominion Bank added 0.5 percent to C$66.15.

But shares in Home Capital Group Inc slumped 12 percent to C$19.64 after staff at the Ontario Securities Commission said they would pursue claims that the alternative lender and three current or former executives had breached disclosure rules.

Celestica Inc declined 3.4 percent to C$18.64 after the electronics manufacturer reporting quarterly earnings. (Reporting by Alastair Sharp; Editing by Meredith Mazzilli)

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