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CANADA STOCKS-TSX rises as RBC earns boosts financial stocks

Published 2017-08-23, 10:12 a/m
© Reuters.  CANADA STOCKS-TSX rises as RBC earns boosts financial stocks

* TSX up 46.93 points, or 0.31 percent, at 15,031.89

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

TORONTO, Aug 23 (Reuters) - Canada's main stock index rose on Wednesday, boosted by a jump in financial shares led by Royal Bank of Canada RY.TO after the country's biggest lender reported a rise in third-quarter profit.

RBC 's stock rose 1.3 percent to C$93.18 after it kicked off the country's banking earnings season with double-digit growth at its wealth management business, which offset a weaker showing in its capital markets unit. reporting over the next week made smaller gains, with the heavyweight financials group gaining 0.7 percent overall.

At 9:50 a.m. EDT (1350 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 46.93 points, or 0.31 percent, at 15,031.89. Seven of its 10 main sectors were higher.

Air Canada AC.TO advanced 2.9 percent to C$23.71 ahead of what the country's biggest airline called a major announcement about new air service from Montreal.

Iamgold Corp IMG.TO gained 3.7 percent to C$7.49 and Cominar REIT CUF_u.TO jumped 5.2 percent to C$13.47 after analysts at Bank of Montreal raised their price targets and recommendations on the stocks.

Gold and base metal miners perked up in line with a pick up in the price of the precious metal, with Barrick Gold Corp ABX.TO up 0.7 percent at C$21.31.

Pipeline operators made gains even as the price of oil stagnated, with Enbridge Inc ENB.TO up 0.9 percent at C$50.63 and TransCanada Corp TRP.TO adding 0.6 percent to C$62.97.

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