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CANADA STOCKS-TSX rises to near two-week high on bets Britain stays in EU

Published 2016-06-23, 12:25 p/m
© Reuters.  CANADA STOCKS-TSX rises to near two-week high on bets Britain stays in EU
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* TSX up 140.29 points, or 1 pct, to 14,144.1
* Index touches highest since June 10 at 14,150.40
* All of the TSX's 10 main groups were higher

TORONTO, June 23 (Reuters) - Canada's benchmark stock index
hit a nearly two-week high on Thursday, led by financial and
energy stocks after a series of last-minute opinion polls
pointed to Britain staying in the European Union and bookmakers'
odds indicated a shift toward the "Remain" camp.
Global equities and oil prices rose with the world watching
as Britons voted in a referendum on whether to leave the EU,
changing the face of Europe, or to stay.
Some of the most influential movers on the index were
Canada's heavyweight banks. Royal Bank of Canada RY.TO climbed
1.5 percent to C$79.61 and Toronto-Dominion Bank TD.TO
advanced 1.2 percent to C$56.86, while the overall financials
group rose 1.2 percent.
Energy stocks rallied 1.8 percent, including a 2.2 percent
gain for Suncor Energy Inc SU.TO to C$35.55.
U.S. crude CLc1 prices were up 0.7 percent at $49.48 a
barrel. O/R
Shares of BlackBerry Ltd BB.TO rose 3.1 percent to C$8.90.
The smartphone industry pioneer broke even in the first quarter,
topping expectations, and forecast a smaller-than-expected
annual loss, even as its revenue fell sharply.
Planemaker Bombardier Inc BBDb.TO said the Canadian
province of Quebec agreed to invest $1 billion in its CSeries
aircraft program, which has struggled with years of delays and
cost overruns. Its shares rose 1.5 percent to C$1.98.

At 12:07 p.m. EDT (1607 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE rose 140.29 points, or 1
percent, to 14,144.1. It touched its highest since June 10 at
14,150.40.
All ten of the index's main industry groups were higher.
A series of late opinion polls favored Britons voting in
Thursday's referendum to stay in the European Union, and
bookmakers' odds indicated a further shift toward the "Remain"
camp, which boosted sterling. FRX/
Canadian equity fund managers say they have raised their
exposure to domestic stocks over recent months because of
improved confidence in the local market, while keeping a close
eye on the risk that would be posed by Britain's withdrawal from
the European Union.
The materials group, which includes precious and base metals
miners and fertilizer companies, added 0.6 percent, with the
move higher restrained by losses for gold stocks.
Goldcorp Inc G.TO fell 2.4 percent to C$22.63 as reduced
demand for safe-haven assets weighed on gold. Spot gold XAU=
dipped 0.2 percent after having hit an earlier two week low.
GOL/

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