February 28, 2017 / 3:41 PM / 6 months ago

CANADA STOCKS-TSX rises with gold miners, Bank of Montreal shines

(Adds details on specific stocks, updates prices)

* TSX up 53.09 points, or 0.34 percent, at 15,516.60

* Six of the TSX's 10 main groups move lower

TORONTO, Feb 28 (Reuters) - Canada's benchmark stock index rose in morning trade on Tuesday, boosted by a jump in shares of a major bank and strong gains for gold miners as the precious metal held near a 3-1/2-month high.

Bank of Montreal rose 2.2 percent to C$100.71 after it reported much higher-than-expected quarterly earnings and announced plans to buy back 15 million of its shares.

Bank of Nova Scotia's earnings were less impressive, and its shares fell 2.2 percent to C$77.50. The financials group, which accounts for 35 percent of the index's weight, gained 0.2 percent overall.

At 10:15 a.m. ET (1515 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 53.09 points, or 0.34 percent, at 15,516.60.

Gold miners featured prominently among the most influential gainers, as bullion prices held near a high point ahead of a speech by U.S. President Donald Trump that is expected to provide more clarity on economic reforms.

Barrick Gold Corp rose 3.1 percent to C$25.49, and Agnico Eagle Mines Ltd advanced 3.6 percent to C$57.34.

The materials group, which includes precious and base metals miners and fertilizer companies, added 2.3 percent.

Six of the index's 10 main groups were in negative territory, with advancers barely outnumbering decliners overall.

Valeant Pharmaceuticals International Inc fell 9 percent to C$19.96 after saying that 2017 would be another year of transition with revenue falling as much as 8 percent amid drug price pressure and fewer prescriptions.

The energy group retreated 0.3 percent, as oil prices dipped within a tight recent range as increasing crude production from the United States offsets OPEC-led output cuts.

U.S. crude prices were down 1 percent to $53.51 a barrel, while Brent lost 0.9 percent to $55.44.

Pipeline company Enbridge Inc fell 1.7 percent to C$55.37 and Crescent Point Energy Corp lost 1.6 percent to C$14.75.

TransCanada Corp bucked the trend, with the pipeline company adding 1.4 percent to C$61.37 after agreeing on Monday to sell two U.S. pipelines to fund other projects.

Canadian producer prices rose for the fifth month in a row in January, increasing by 0.4 percent from December on higher prices for energy and petroleum products, Statistics Canada said.

Reporting by Alastair Sharp; Editing by Meredith Mazzilli

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