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CANADA STOCKS-TSX rises, helped by earnings results
May 2, 2017 / 2:47 PM / 7 months ago

CANADA STOCKS-TSX rises, helped by earnings results

(Adds details on specific stocks, updates prices)

* TSX up 63.74 points, or 0.41 percent, at 15,639.37

* Nine of the TSX’s 10 main groups were higher

TORONTO, May 2 (Reuters) - Canada’s main stock index moved higher on Tuesday, helped by gains for companies whose financial results exceeded expectations, including energy company Encana Corp and e-commerce company Shopify.

Valeant Pharmaceuticals International Inc advanced 5.6 percent to C$13.96 after its CEO told shareholders the company is on track to repay $5 billion in debt by early next year.

Colliers International Group Inc shares jumped 9.8 percent to C$75.31 after the commercial real estate company posted strong first-quarter results.

E-commerce software maker Shopify Inc advanced 4.2 percent to C$110.57 after reporting a 75 percent jump in revenue and upping its full-year sales forecast.

Encana Corp, Canada’s No. 2 oil and natural gas producer, advanced 2.5 percent to C$14.92 as higher oil and gas prices helped boost its operating profit.

The energy group climbed 0.5 percent, even as oil prices steadied.

Suncor Energy Inc, Canada’s biggest oil and gas producer, was up 0.6 percent at C$43.17. The majority owner of the Syncrude Canada oil sands project said on Monday it had resumed shipping crude from its Mildred Lake upgrader.

At 10:19 a.m. ET (1419 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 63.74 points, or 0.41 percent, to 15,639.37.

Nine of the index’s 10 main groups were in positive territory, with financials slipping.

Alternative lender Home Capital Group advanced 9.9 percent to C$7.65. The company’s stock has plummeted since a securities regulator last month accused top executives of hiding mortgage broker fraud from investors.

WestJet Airlines Ltd declined 4.6 percent to C$21.80 despite beating profit estimates as the company said it would buy more jets, raising its capital expenditure. (Reporting by Alastair Sharp; editing by Grant McCool)

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