* TSX up 97.61 points, or 0.7 percent, to 14,017.19
* Nine of the TSX's 10 main groups were higher
TORONTO, May 24 (Reuters) - Canada's main stock index rose
to a seven-month high on Tuesday, led by the financials and
energy groups as oil rallied and Wall Street stocks moved
higher.
The index, which was closed for a holiday on Monday, pushed
above the 14,000 threshold for the first time since October. It
has rebounded more than 21 percent from its almost 3-1/2-year
low of 11,531.22 in January.
The rally for financials comes as banks were among the
biggest gainers on Wall Street amid speculation on the
possibility of a June interest rate hike from the U.S. Federal
Reserve.
Royal Bank of Canada RY.TO rose 1.1 percent to C$78.74,
and Bank of Nova Scotia BNS.TO advanced 1.7 percent to
C$64.18, while the overall financials group was up 1.4 percent.
Canada's biggest banks still are expected to set aside more
funds to cover bad loans to the oil and gas sector, eating into
their profits when they announce second quarter results this
week.
The energy group climbed 1.3 percent, including a 2.9
percent gain for Suncor Energy Inc SU.TO to C$35.51.
The rally in energy stocks comes after authorities in Canada
lifted evacuation orders on Monday for all work camps and some
additional oil facilities that had been shuttered when a massive
wildfire threatened the nation's energy hub, a significant step
for companies eager to restart production.
Oil rose as investors awaited crude oil inventory data from
the United States that was expected to show a shrinking supply
overhang. U.S. crude CLc1 prices were up 1.1 percent to $48.6
a barrel.
Industrials rose 0.9 percent, led by railway stocks, while
the consumer staples group was up 1.7 percent.
At 11:07 a.m. EDT (1507 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE rose 97.61 points, or 0.7
percent, to 14,017.19. It touched its highest since Oct. 9 at
14,025.82.
Nine of the index's 10 main groups were higher. The one
index that was lower was the materials group, which includes
precious and base metals miners and fertilizer companies. It
lost 2.6 percent.
Barrick Gold Corp ABX.TO fell 4.9 percent to C$22.68,
while Goldcorp Inc G.TO was down 4 percent at C$21.86.
Gold XAU= fell more than 1 percent to a four-week low as
hawkish comments from Federal Reserve officials in the previous
session sent the dollar to a two-month high against a currency
basket. GOL/