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CANADA STOCKS-TSX rises, buoyed by results from Rogers and Encana

Published 2016-07-21, 10:25 a/m
© Reuters.  CANADA STOCKS-TSX rises, buoyed by results from Rogers and Encana
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(Adds details from earnings reports, early trade)

* TSX up 48.05 points, or 0.33 percent, at 14,581.62

* Six of the TSX's 10 main groups move higher

TORONTO, July 21 (Reuters) - Canada's main stock index gained in morning trading on Thursday, boosted by strong earnings reports from Rogers Communications Inc RCIb.TO and Encana Corp and a rebound in some materials stocks.

Rogers surged 3.5 percent to C$55.51 after posting better-than-expected quarterly profit on strong wireless and internet subscriber growth. L4N1A73OT

Encana Corp ECA.TO shares jumped 6.2 percent to C$11.08 after the oil and gas producer reported a surprise quarterly profit. 10:16 a.m. EDT (1416 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 48.05 points, or 0.33 percent, at 14,581.62. It is near an 11-month high.

First Quantum Minerals FM.TO advanced 5.5 percent to C$10.55, Teck Resources TCKb.TO gained 4.5 percent to C$18.03, and Barrick Gold Corp ABX.TO rose 1.9 percent to C$26.50.

The materials group, which includes precious and base metals miners and fertilizer companies, added 1.6 percent.

Across the index, there were two advancers for every decliner and six of its 10 main groups were in positive territory, with energy stocks up 0.7 percent and telecoms adding 1 percent.

The heavyweight financials group was barely lower, and industrials slipped 0.1 percent.

Canadian National Railway Co CNR.TO lost 0.8 percent to C$82.50 after strong gains on Wednesday following its earnings.

Mullen Group Ltd MTL.TO , a trucking and logistics company, advanced 9.2 percent to C$15.53 after surprisingly strong earnings prompted several analysts to raise their price targets on the stock.

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