January 19, 2018 / 3:38 PM / 7 months ago

CANADA STOCKS-TSX rises, led by bank and railroad shares

(Adds details on sectors and stocks throughout; updates prices)

* TSX rises 38.83 points, or 0.24 percent, to 16,323.30

* Eight of the index’s 10 main groups rise

* Financials climb 0.5 percent, industrials gain 0.6 percent

TORONTO, Jan 19 (Reuters) - Canada’s main stock index rose on Friday, led by gains for the heavyweight financials group and industrial shares, while energy stocks were weighed by lower oil prices.

* At 10:15 a.m. ET (15:15 GMT), the Toronto Stock Exchange’s S&P/TSX composite index rose 38.83 points, or 0.24 percent, to 16,323.30.

* For the week, the index was on track to gain 0.1 percent.

* Some of the most influential movers on the index were the country’s major banks. Royal Bank of Canada rose 0.7 percent to C$107.66, while Toronto-Dominion Bank added 0.6 percent to C$74.17.

* The overall financial services group, which accounts for more than one-third of the TSX’s weight, gained 0.5 percent, while the materials group, which includes precious and base metals miners and fertilizer companies, added 0.6 percent.

* Barrick Gold Corp climbed nearly 1 percent to C$17.88. Gold futures rose 0.5 percent to $1,333 an ounce.

* Industrials advanced 0.6 percent as railroad stocks gained ground.

* Canadian Pacific Railway Ltd was up 1.4 percent at C$230.28 after the company reported on Thursday fourth-quarter profit that beat analysts’ estimates.

* Canadian manufacturing sales jumped 3.4 percent in November, their biggest increase in 2-1/2 years, on strength in transportation equipment and petroleum and coal products, Statistics Canada said.

* Eight of the index’s 10 main groups gained.

* Kinder Morgan Canada Ltd climbed 6.4 percent to C$17.81 after Canada’s National Energy Board on Thursday set out a process for resolving permit disputes related to the company’s Trans Mountain pipeline expansion project.

* Still, the energy group fell 1 percent. U.S. crude prices were down 0.6 percent to $63.56 a barrel. (Reporting by Fergal Smith; Editing by Nick Zieminski)

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