* TSX up 100.97 points, or 0.79 percent, to 12,961.32
* Eight of the TSX's 10 main groups were higher
TORONTO, March 1 (Reuters) - Canada's main stock index rose
on Tuesday, led by financial shares after the country's third
largest bank reported a rise in quarterly profit, while domestic
data revealed the economy grew more than expected in the fourth
quarter.
Bank of Nova Scotia BNS.TO rose 4.4 percent to C$57.18
after it reported a 5 percent increase in first-quarter net
income, helped by growth in its international banking business.
Royal Bank of Canada RY.TO added 1.8 percent to C$70.33,
while Toronto-Dominion Bank TD.TO was up 1.5 percent at
C$53.22. The overall financials group gained 1.8 percent.
The energy sector advanced 0.7 percent as oil prices rose to
a two-month high. It included a 1.1 percent increase for Suncor
Energy Inc SU.TO to C$33.43. O/R
TransCanada Corp TRP.TO inched up 0.7 percent to C$50.02
after Quebec said it was seeking an injunction to compel the
company's proposed Energy East oil pipeline to be reviewed under
the province's environmental laws.
Maple Leaf Foods Inc MFI.TO jumped more than 8 percent to
C$24.65 after the Canadian pork processor posted a
better-than-expected fourth-quarter profit as margins in its
prepared meats business improved.
At 11:15 a.m. EST (1615 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE increased 100.97 points, or
0.79 percent, to 12,961.32. Eight of the index's 10 main groups
were higher.
The Canadian economy slowed substantially in the final
quarter of last year, but the 0.8 percent annualized increase in
gross domestic product topped both economists' and policymakers'
expectations for zero growth.
Valeant Pharmaceuticals International Inc (N:VRX) VRX.TO was the
biggest drag on the index for a second consecutive day. It said
on Monday it is under investigation by the U.S. Securities and
Exchange Commission.
The company's shares fell 10.8 percent to C$84.25, having
hit its lowest since May 2013 at C$83.
Gold stocks also fell, including a 4.8 percent drop in
Barrick Gold Corp ABX.TO to C$17.89.
The materials group, which includes precious and base metals
miners and fertilizer companies, lost 1.6 percent.