Aug 27 (Reuters) - Canada’s main stock index rose at the open on Tuesday, as some investors pinned hopes on a resolution to the Sino-U.S. trade war, while the country’s fourth-largest lender Bank of Montreal slipped after reporting a quarterly profit below estimates.
* At 9:38 a.m. ET (13:38 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 57.3 points, or 0.36%, at 16,156.09, on course to rise for a third day.
* Bank of Montreal reported a third-quarter profit below market expectations, hurt by higher loan loss provisions.
* Canadian lender Bank of Nova Scotia beat estimates for quarterly profit, as strength in its international division buffered the bank from higher credit provisions.
* Shares of Scotiabank rose 1.7% while BMO fell more than 3%. Royal Bank of Canada and Canadian Imperial Bank of Commerce, which reported results last week, were up marginally.
* The financials sector posted a small gain.
* Nine of the index’s 11 major sectors were higher.
* The energy sector climbed 0.4% as U.S. crude prices were up 0.9% a barrel, while Brent crude added 0.6%.
* The industrials sector rose 0.3%.
* The materials sector, which includes precious, base metals miners and fertilizer companies, added 0.6% as gold futures rose 0.1% to $1,528.5 an ounce.
* On the TSX, 179 issues were higher, while 51 issues declined for a 3.51-to-1 ratio favouring gainers, with 7.49 million shares traded.
* The largest percentage gainers on the TSX were Labrador Iron Ore Royalty Corp, which rose 3.1% and Shopify Inc , which rose 2.4%.
* CannTrust Holdings Inc fell 3.8%, the most on the TSX. The second biggest decliner was Bank of Montreal.
* The most heavily traded shares by volume were Royal Nickel Corp, Stornoway Diamond Corp and Belo Sun Mining Corp.
* The TSX posted five new 52-week highs and two new lows.
* Across all Canadian issues there were 20 new 52-week highs and nine new lows, with total volume of 17.54 million shares. (Reporting by Medha Singh in Bengaluru)
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