(Adds details on specific stocks, updates prices)
* TSX up 41.65 points, or 0.27 percent, at 15,238.83
* Gain followed sharpest fall in a month on Wednesday
TORONTO, Dec 15 Canada's main stock index rose
on Thursday, helped by broad gains for financial stocks a day
after the U.S. Federal Reserve hiked interest rates and struck a
hawkish note on further increases, a move which weighed on
Canadian gold miners.
Energy stocks also gained despite a pullback in oil prices
caused in part by a surging U.S. dollar, while Bombardier
surged 3.7 percent to C$1.98 after saying growth in
its rail business and the ramp-up of the C Series aircraft
program should help boost full-year consolidated revenue in 2017
by a low single-digit percentage..
At 10:09 a.m. EDT (1509 GMT), the Toronto Stock Exchange's
S&P/TSX composite index was up 41.65 points, or 0.27
percent, at 15,238.83. It had its sharpest fall in a month in
the prior session.
A string of gold miners topped the list of the index's most
influential weights, with Barrick Gold Corp falling 3.7
percent to C$18.81 and Yamana Gold Inc down 6.4 percent
Gold prices hit their lowest level since early February as
the Fed's policy statement pushed U.S. bond yields up, lifting
the opportunity cost of holding the non-yielding precious metal.
The materials group, which includes precious and base metals
miners and fertilizer companies, lost 1.8 percent.
The financials group gained 0.8 percent. Higher bond yields
reduce the value of insurance companies' liabilities and
increase net interest margins of banks.
Royal Bank of Canada rose 1.1 percent to C$91.69 and
Toronto-Dominion Bank added 1.3 percent to C$66.59.
Insurers also rose, with Manulife Financial Corp up
1.9 percent to C$24.83 and Sun Life Financial notching
a 2 percent gain to C$52.24.
Supermarket owner Empire Co Ltd fell 12.4 percent
to C$16.39 after reporting a sharp miss on quarterly profit as
same-store sales fell.
Athabasca Oil Corp advanced 16.2 percent to C$1.65
after the Calgary-based company agreed to buy Norwegian oil
company Statoil ASA's Canadian oil sands assets in a
deal worth up to C$832 million.
Canadian Natural Resources Ltd advanced 0.4 percent
to C$44.93 after modestly increasing its 2017 capital budget and
saying production should rise by 6 percent.
Overall, the energy group climbed 0.5 percent.
Valeant Pharmaceuticals International Inc fell 5.8
percent to C$17.70. Morgan Stanley downgraded the stock to
equal-weight from overweight.
Canadian manufacturing sales unexpectedly fell 0.8 percent
in October from September on widespread weakness, indicating
fourth-quarter growth could be sluggish, Statistics Canada data
showed on Thursday.
(Reporting by Alastair Sharp; Editing by Paul Simao)