* TSX up 171.51 points, or 1.11 percent, to 15,568.21
* Nine of the TSX's 10 main groups rise
TORONTO May 5 Canada's main stock index rose
over 1 percent on Friday, as a rebound in oil prices drove
energy stocks higher and major lenders posted robust gains.
The most influential movers on the index included Bank of
Nova Scotia, which rose 2.2 percent to C$76.82, and
Tourmaline Oil, which added 5.9 percent to C$27.59 after the
energy company reported strong quarterly earnings on
The overall financials group, which accounts for more than a
third of the weight of the index, gained 1.0 percent.
Home Capital Group, Canada's biggest non-bank
mortgage lender, climbed 4.0 percent to C$6.25 after it
announced that Alan Hibbens would replace co-founder Gerald
Soloway on its board.
Soloway had been accused by regulators of making "materially
misleading statements" to investors, and on Thursday its shares
slumped more than 12 percent on a regulatory hearing to
investigate the matter.
The oil and gas companies' sector rose 2.3 percent.
Suncor Energy Inc ticked up 1.7 percent to C$42.47,
while TransCanada Corp, which reported
better-than-expected first-quarter results, rose 1.5 percent to
C$63.60. Encana Corp added 3.0 percent to C$14.75.
Oil prices, which tumbled on Thursday due to oversupply
fears, recouped some of the losses. U.S. crude prices
were up 1.9 percent to $46.40 a barrel, while Brent crude
also added 1.9 percent to $49.29.
At 11:24 a.m. ET (1524 GMT), the Toronto Stock Exchange's
S&P/TSX composite index rose 171.51 points, or 1.11
percent, to 15,568.21.
Of the index's 10 main groups, healthcare was the lone
decliner, sliding by just under 0.5 percent.
Air Canada, which reported a narrower-than-expected
loss on Friday, saw its shares rise 6.1 percent to C$13.57. The
industrials group rose 0.4 percent.
Materials stocks like miners and other resources added 1.5
Advancing issues outnumbered declining ones on the TSX by
195 to 50, for a 3.90-to-1 ratio on the upside.
(Reporting by Solarina Ho Editing by W Simon)