(Adds details throughout on sectors and individual stocks and
* TSX rises 60.96 points, or 0.39 percent, to 15,581.87
* Eight of the TSX's 10 main groups rise
TORONTO, March 16 Canada's main stock index rose
on Thursday, led by gains for financials as bond yields rose,
while luxury parka maker Canada Goose Holdings Inc
made its stock market debut, trading well above the price of its
initial public offering.
The winter outerwear company's shares traded at C$22.05
after it had set on Wednesday the price of its IPO at C$17 per
Bond yields rebounded, lowering the value of insurance
companies' liabilities and increasing net interest margins of
banks. Yields tumbled on Wednesday after the Federal Reserve
raised interest rates but did not flag an accelerated pace of
The country's major banks were among the most influential
movers on the index, with Royal Bank of Canada gaining
1.1 percent to C$97.71, while the overall financials group
gained 0.7 percent.
Premium Brands Holdings Corp climbed nearly 4
percent to C$76.21 after reporting record fourth-quarter results
and a 10.5 percent increase in its dividend.
At 11:13 a.m. ET (1513 GMT), the Toronto Stock Exchange's
S&P/TSX composite index rose 60.96 points, or 0.39
percent, to 15,581.87.
The materials group, which includes miners and fertilizer
companies, added 0.2 percent as base and precious metal prices
Gold futures rose 2.3 percent to $1,227.2 an ounce,
and copper prices advanced 0.8 percent to $5,910 a
Eight of the index's 10 main groups were higher, with energy
unchanged as oil prices edged lower. U.S. crude prices
were down 0.14 percent at $48.79 a barrel.
Oil prices jumped on Wednesday after a dip in U.S. crude
inventories that suggested OPEC-led output cuts were starting to
Foreign investment in Canadian securities dropped to its
lowest level in more than a year in January, as non-residents
bought bonds while selling stocks and money market paper,
Statistics Canada said.
(Reporting by Fergal Smith Editing by W Simon)