(Adds details on specific stocks, updates prices)
* TSX up 78.69 points, or 0.5 percent, at 15,693.17
* Nine of the TSX's 10 main groups move higher
TORONTO, April 24 Canada's main stock index rose
on Monday morning, boosted by solid gains for banking stocks as
investors cheered domestic data and French election results that
limited the risk of another core member leaving the European
The financials group gained 1.4 percent after data showed
domestic wholesale trade fell less than expected and the
market's favored candidate won the first round of the French
election, reducing the risk of another Brexit-like shock.
Royal Bank of Canada rose 1.3 percent to C$95.81,
Toronto-Dominion Bank advanced 1.3 percent to C$66.48
and Bank of Nova Scotia added 1.7 percent to C$78.15.
Insurer Manulife Financial Corp rose 3 percent to
C$23.84 as U.S. and Canadian bond yields rose.
Home Capital Group Inc shares fell 2.8 percent to
C$18.72 after the country's biggest non-bank lender said founder
and former Chief Executive Officer Gerald Soloway would step
down from its board, days after regulators accused the company
of making "materially misleading statements" to investors.
Home Capital's shares had fallen 20.7 percent on Thursday
but gained 8.7 percent on Friday.
At 10:10 a.m. EDT (1410 GMT), the Toronto Stock Exchange's
S&P/TSX composite index was up 78.69 points, or 0.5
percent, at 15,693.17.
Nine of the index's 10 main groups were in positive
The index's broader materials sector, which includes
precious and base metal miners and fertilizer companies, lost
1.1 percent. A sharp fall in the price of gold following the
French election weighed on Canada's producers of the metal.
Barrick Gold Corp fell 2.1 percent to C$25.44, and
Goldcorp Inc declined 2.9 percent to C$19.82. Barrick
will report quarterly earnings after the bell, with Goldcorp due
to follow on Wednesday.
Smaller producer Semafo Inc fell 18 percent to
C$3.23, its lowest level in more than a year, after the gold
miner reduced its production outlook for 2017.
The energy group was up 0.3 percent as oil prices steadied
after last week's sharp losses, while Precision Drilling Corp
dropped 3.1 percent to C$5.65 after reporting a
smaller-than-expected rise in revenue as the rates customers
paid to hire rigs fell despite increased demand.
SNC-Lavalin Group Inc advanced 0.4 percent to
C$54.46. The company won a contract of undisclosed value from
Saudi Aramco for initial engineering and design work to expand
the gas-oil separation plant of the Berri oilfield, industry
(Reporting by Alastair Sharp; Editing by Lisa Von Ahn)