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CANADA STOCKS-TSX rises on financials, energy; Home Capital jumps
June 22, 2017 / 2:43 PM / 2 months ago

CANADA STOCKS-TSX rises on financials, energy; Home Capital jumps

* TSX up 39.1 points, or 0.26 percent, at 15,187.63

* Half of the TSX's 10 main groups were higher (Adds details, updates prices)

OTTAWA, June 22 (Reuters) - Canada's main stock index rose modestly on Thursday as the energy and financial sectors advanced, while non-bank lender Home Capital Group jumped after it said it would get a line of credit from Berkshire Hathaway Inc.

Shares of Home Capital rose 12.2 percent to C$16.76 after it said billionaire Warren Buffett's Berkshire would provide a C$2 billion ($1.51 billion) loan to its Home Trust Co unit.

Home Capital reached a settlement last week with the Ontario Securities Commission and accepted responsibility for misleading investors about problems with its mortgage underwriting procedures.

Depositors have withdrawn 95 percent of funds from Home Capital's high-interest savings accounts since March 27, when the company terminated the employment of former chief executive officer Martin Reid.

Financial shares were the biggest lift on the Toronto market, with Royal Bank of Canada up 0.8 percent at C$94 and Bank of Nova Scotia gaining 0.9 percent to C$79.73. The financial sector gained 0.6 percent overall.

In early trading, the Toronto Stock Exchange's S&P/TSX composite index was up 39.1 points, or 0.26 percent, at 15,187.63. Half of the index's 10 main groups were in positive territory.

Shares of energy companies got a boost from higher oil prices. Suncor Energy Inc rose 0.4 percent to C$38.41, and Canadian Natural Resources gained 0.7 percent to C$37.72.

U.S. crude oil was up 0.9 percent at $42.89 a barrel, while Brent crude added 1.2 percent to $45.36.

$1 = 1.3229 Canadian dollars Reporting by Leah Schnurr; Editing by Paul Simao and Lisa Von Ahn

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