August 2, 2017 / 3:21 PM / 2 months ago

CANADA STOCKS-TSX rises, boosted by financial stocks as earnings in focus

(Updates prices)

* TSX up 17.95 points, or 0.12 percent, at 15,220.05

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

TORONTO, Aug 2 (Reuters) - Canada’s main stock index rose on Wednesday, boosted by gains for its heavyweight financial group, while earnings hits and misses moved a string of companies.

The financials group, which accounts for more than a third of the index’s weight, gained 0.5 percent overall.

Shares of Genworth MI Canada Inc jumped 7 percent to C$38.75 after the private-sector residential mortgage insurer reported quarterly earnings that sharply exceeded analyst expectations.

The country’s biggest banks were also among the most influential gainers, with Royal Bank of Canada up 0.8 percent at C$94.17 and Toronto-Dominion Bank adding 0.7 percent to C$64.65.

At 10:41 a.m. ET (1441 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 17.95 points, or 0.12 percent, to 15,220.05.

Advancers and decliners were almost evenly matched overall, and half of the TSX’s 10 main groups moved higher.

Movie theater chain Cineplex fell 9.1 percent to C$44.98 after reporting a big profit miss, hurt by higher costs and lower attendance.

CGI Group Inc fell 4.1 percent to C$63.63 after the IT services company missed profit estimates on lower margins and bookings as well as weakness in its European business.

Torstar Corp lost 1.4 percent to C$1.43 after the newspaper publisher posted a surprise quarterly loss.

Top gainers included oil services company Gibson Energy Inc , which jumped 9.5 percent to C$17.87 after saying it planned to sell its U.S. environmental services business. Analysts said that could raise between $90 million and $120 million that could be used to pay down debt.

Restaurant Brands International Inc fell 0.8 percent to C$73.66 as higher revenue at its Burger King group was offset by weakness in comparable sales growth at its Tim Horton coffee and donut chain.

Reporting by Alastair Sharp; Editing by W Simon

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