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

Published 2017-04-20, 10:43 a/m
© Reuters.  CANADA STOCKS-TSX up as CP Rail earnings beat; energy, bank stocks support
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* 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 CP.TO 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. rival, Canadian National Railway Co CNR.TO , 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 .GSPTSE 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 CNQ.TO 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. country's largest lender, Royal Bank of Canada RY.TO , rose 0.5 percent to C$95.62, and Toronto-Dominion Bank TD.TO added 0.5 percent to C$66.15.

But shares in Home Capital Group Inc HCG.TO 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 CLS.TO declined 3.4 percent to C$18.64 after the electronics manufacturer reporting quarterly earnings.

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