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CANADA STOCKS-TSX rises, helped by earnings results

Published 2017-05-02, 10:43 a/m
© Reuters.  CANADA STOCKS-TSX rises, helped by earnings results
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(Adds details on specific stocks, updates prices)

* TSX up 63.74 points, or 0.41 percent, at 15,639.37

* Nine of the TSX's 10 main groups were higher

TORONTO, May 2 (Reuters) - Canada's main stock index moved higher on Tuesday, helped by gains for companies whose financial results exceeded expectations, including energy company Encana Corp and e-commerce company Shopify.

Valeant Pharmaceuticals International Inc (NYSE:VRX) VRX.TO advanced 5.6 percent to C$13.96 after its CEO told shareholders the company is on track to repay $5 billion in debt by early next year. International Group Inc CIGI.TO shares jumped 9.8 percent to C$75.31 after the commercial real estate company posted strong first-quarter results. software maker Shopify Inc SHOP.TO advanced 4.2 percent to C$110.57 after reporting a 75 percent jump in revenue and upping its full-year sales forecast. Corp ECA.TO , Canada's No. 2 oil and natural gas producer, advanced 2.5 percent to C$14.92 as higher oil and gas prices helped boost its operating profit. energy group climbed 0.5 percent, even as oil prices steadied.

Suncor Energy Inc SU.TO , Canada's biggest oil and gas producer, was up 0.6 percent at C$43.17. The majority owner of the Syncrude Canada oil sands project said on Monday it had resumed shipping crude from its Mildred Lake upgrader. 10:19 a.m. ET (1419 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 63.74 points, or 0.41 percent, to 15,639.37.

Nine of the index's 10 main groups were in positive territory, with financials slipping.

Alternative lender Home Capital Group HCG.TO advanced 9.9 percent to C$7.65. The company's stock has plummeted since a securities regulator last month accused top executives of hiding mortgage broker fraud from investors. Airlines Ltd WJA.TO declined 4.6 percent to C$21.80 despite beating profit estimates as the company said it would buy more jets, raising its capital expenditure.

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