CANADA STOCKS-TSX gets lift from strong German data
* TSX rises 76.56 points, or 0.60 percent, to 12,763.19 * Nine of 10 main index sectors advance * Mining stocks slip as gold prices fall By John Tilak TORONTO, Feb 19 (Reuters) - Financial and energy shares pulled Canada's main stock index higher on Tuesday as data showing a pick-up in German economic sentiment boosted investor confidence. German analyst and investor sentiment soared to its highest level since April 2010, beating all expectations with a third successive increase. "We've got some great numbers out of Germany's future consumer sentiment. It seems like there's good news all around," said Kevin Headland, director, portfolio advisory group, at Manulife Asset Management. "It's sentiment driven. You've seen a lot less negative news flow and that is a positive for the market," he added. The Toronto Stock Exchange's S&P/TSX composite index was up 76.56 points, or 0.60 percent, at 12,763.19. Nine of the 10 main sectors on the index were higher. Shares of life insurer Great-West Lifeco were up 9 Canadian cents at C$26.87 after it was announced the Canadian insurer is buying state-rescued insurer Irish Life for 1.3 billion euros ($1.7 billion) in a deal that increases Great-West's presence in Ireland. Financial shares, the index's weightiest sector, rose 0.8 percent overall, with Royal Bank of Canada up 1.4 percent at C$64.16, and Toronto-Dominion Bank gaining 1 percent to C$83.56. Several Canadian banks will report quarterly results next week, and investors are looking for stronger profit margins and growth. "Dividends remain intact and relative to the (broader) TSX the banks remain very attractive to Canadian investors," Headland said. The energy sector advanced 0.6 percent, with TransCanada Corp, rising 1.3 percent to C$47.39, and Suncor Energy Inc gaining 0.8 percent to C$32.01. The materials sector, which includes mining stocks, slipped 0.3 percent, tracking lower gold prices.
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