(Adds details throughout on stocks and sectors and updates
* TSX up 39.5 points, or 0.25 percent, at 15,825.53
* Index posts new all-time high
* Eight of the TSX's 10 main groups rise
TORONTO, Feb 15 Canada's main stock index rose
for the seventh straight day on Wednesday to set a fresh record
high, led by gains for its financial services group after strong
economic data from both Canada and the United States.
Data showed Canada's manufacturing sales jumped for the
second month in a row in December and that U.S. inflation and
retail sales climbed in January, helping to push bond yields
Higher bond yields, which reduce the value of insurance
companies' liabilities and increase banks' net interest margins,
have helped underpin financials since the U.S. presidential
election on Nov. 8, with the sector up more than 14 percent in
Toronto-Dominion Bank rose 0.9 percent to C$69.18,
while the overall financials group climbed 0.7 percent.
At 11:10 a.m. EST (1610 GMT), the Toronto Stock Exchange's
S&P/TSX composite index rose 39.5 points, or 0.25
percent, to 15,825.53, a new record high.
Energy shares gained 0.4 percent as oil turned higher after
the release of U.S. crude inventory data.
U.S. crude prices were up 0.3 percent at $53.38 a
Eight of the index's 10 main groups rose.
The telecoms group climbed 1.5 percent, led by a 4.7 percent
gain for Manitoba Telecom Services Inc to C$39.35 after
Canada's business competition watchdog asked BCE Inc to
divest some assets to gain approval of its deal to buy the
information and communications technology provider.
Industrials added 0.5 percent, with CAE Inc
climbing 3.9 percent after Desjardins raised its target price
and rating on the stock.
Teck Resources Ltd, North America's largest
producer of steel-making coal, reported better-than-expected
quarterly results, helped by higher realized prices.
Still, its shares fell 3.9 percent to C$31.39, while the
materials group, which includes precious and base metals miners
and fertilizer companies, lost 1 percent even as copper prices
Copper prices advanced 0.6 percent to $6,055 a tonne
and gold futures were unchanged at $1,224.4 an ounce.
Shopify Inc forecast better-than-expected 2017
revenue due to higher demand for its ecommerce software, which
is used to set up and manage online stores.
Its shares jumped 5.7 percent to C$77.44.
(Reporting by Fergal Smith; Editing by Tom Brown)