By Solarina Ho
TORONTO, Nov 25 (Reuters) - Toronto's main stock index finished higher on Thursday as expectations for a healthy bank earnings season, starting next week, buoyed financial issues.
Royal Bank of Canada was among the biggest gainers, advancing 0.6 percent, to C$55.29. Toronto-Dominion Bank rose 0.67 percent to C$75.31. All of the major banks were higher, lifting the influential financial group 0.58 percent.
'There is speculation that maybe one or two of (the banks) might even announce a dividend increase. That probably is what is spurring that sector,' said Fred Ketchen, director of equity trading at ScotiaMcLeod.
The Toronto Stock Exchange's S&P/TSX composite index rose 43.82 points, or 0.34 percent, to 12,945.81.
'The market is reacting a little bit to some firmness in plans in Europe, but clearly we're looking for direction tomorrow,' said Paul Taylor, chief investment officer at BMO Harris Investment Management Inc.
With Wall Street closed for the U.S. Thanksgiving holiday, trading was quiet.
Eight of the 10 main sectors advanced. Consumer staples was down 0.2 percent while healthcare issues fell 0.31 percent.
The energy sector rose 0.3 percent in tandem with oil prices, which edged higher on the back of a softer U.S. dollar. Suncor Energy was up 0.47 percent at C$34.55 while Nexen Inc gained 1 percent to C$21.44.
Gold prices were mostly unchanged, leaving gold miners without solid direction. Barrick Gold's 1.07 percent rise to C$52.11 helped lift the materials sector 0.14 percent. Tempering the gains was a 0.24 percent drop by Goldcorp, which finished at C$46.20.
Overseas, Ireland's government expressed confidence it would be able to pass the toughest budget in the country's history despite an expected by-election defeat. Dublin's efforts to cut the worst deficit in Europe will form the basis of an 85 billion euro bailout from the IMF and the EU.
But ongoing concerns over whether other euro zone members such as Portugal could manage their debt continued to weigh. Earlier this year, Greece received a 110 billion euro bailout.
'It's a broad issue ... the concern is that an isolated situation in Greece is becoming something more pervasive,' said Taylor. 'I'm just surprised the clouds were not darker.'
In individual issues, Tim Hortons, which said it was refinancing $100 million of maturing debt, was the lead decliner, sliding 1.43 percent to C$40.54. It has been trading at all time highs in recent sessions.
($1=$1.01 Canadian)
(Editing by Rob Wilson) ============================================================== FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS: TSX market report........................................ Canadian dollar and bonds report................... Top News: Canada .................................... Today in Canada..................................... Canada earnings schedule............................. Canadian company news ................................ Reuters global stocks poll (Canada)................ FOR CANADIAN MARKETS DATA, CLICK ON CODES IN BRACKETS: Canadian Equities speed guide...................... S&P/TSX Composite index ............................. S&P/TSE Venture composite index ..................... TSX most active....................................... Venture Exchange most active........................... Top TSX pct gainers................................... Top TSX pct losers.................................... S&P/TSX 60 index ..................................... 52 week highs: TSX............... Venture.............. 52 week lows: TSX............... Venture.............. Canadian dollar quote..................... FOR MAIN GLOBAL MARKET DATA AND MARKET REPORTS: FTSE EUROTOP 300 ..... EUROPEAN REPORT ....... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt market stories CAC-40................. Paris market stories... World Indices..................................... Global markets report............................ Foreign exchange...................................... Oil.................................................... US Treasuries.......................................... International bonds................................... Gold....................................... or CRB index of commodity futures........................ Keywords: MARKETS CANADA/STOCKS (solarina.ho@thomsonreuters.com;+1 416 941 8067; Reuters Messaging: solarina.ho.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
TORONTO, Nov 25 (Reuters) - Toronto's main stock index finished higher on Thursday as expectations for a healthy bank earnings season, starting next week, buoyed financial issues.
Royal Bank of Canada was among the biggest gainers, advancing 0.6 percent, to C$55.29. Toronto-Dominion Bank rose 0.67 percent to C$75.31. All of the major banks were higher, lifting the influential financial group 0.58 percent.
'There is speculation that maybe one or two of (the banks) might even announce a dividend increase. That probably is what is spurring that sector,' said Fred Ketchen, director of equity trading at ScotiaMcLeod.
The Toronto Stock Exchange's S&P/TSX composite index rose 43.82 points, or 0.34 percent, to 12,945.81.
'The market is reacting a little bit to some firmness in plans in Europe, but clearly we're looking for direction tomorrow,' said Paul Taylor, chief investment officer at BMO Harris Investment Management Inc.
With Wall Street closed for the U.S. Thanksgiving holiday, trading was quiet.
Eight of the 10 main sectors advanced. Consumer staples was down 0.2 percent while healthcare issues fell 0.31 percent.
The energy sector rose 0.3 percent in tandem with oil prices, which edged higher on the back of a softer U.S. dollar. Suncor Energy was up 0.47 percent at C$34.55 while Nexen Inc gained 1 percent to C$21.44.
Gold prices were mostly unchanged, leaving gold miners without solid direction. Barrick Gold's 1.07 percent rise to C$52.11 helped lift the materials sector 0.14 percent. Tempering the gains was a 0.24 percent drop by Goldcorp, which finished at C$46.20.
Overseas, Ireland's government expressed confidence it would be able to pass the toughest budget in the country's history despite an expected by-election defeat. Dublin's efforts to cut the worst deficit in Europe will form the basis of an 85 billion euro bailout from the IMF and the EU.
But ongoing concerns over whether other euro zone members such as Portugal could manage their debt continued to weigh. Earlier this year, Greece received a 110 billion euro bailout.
'It's a broad issue ... the concern is that an isolated situation in Greece is becoming something more pervasive,' said Taylor. 'I'm just surprised the clouds were not darker.'
In individual issues, Tim Hortons, which said it was refinancing $100 million of maturing debt, was the lead decliner, sliding 1.43 percent to C$40.54. It has been trading at all time highs in recent sessions.
($1=$1.01 Canadian)
(Editing by Rob Wilson) ============================================================== FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS: TSX market report........................................ Canadian dollar and bonds report................... Top News: Canada .................................... Today in Canada..................................... Canada earnings schedule............................. Canadian company news ................................ Reuters global stocks poll (Canada)................ FOR CANADIAN MARKETS DATA, CLICK ON CODES IN BRACKETS: Canadian Equities speed guide...................... S&P/TSX Composite index ............................. S&P/TSE Venture composite index ..................... TSX most active....................................... Venture Exchange most active........................... Top TSX pct gainers................................... Top TSX pct losers.................................... S&P/TSX 60 index ..................................... 52 week highs: TSX............... Venture.............. 52 week lows: TSX............... Venture.............. Canadian dollar quote..................... FOR MAIN GLOBAL MARKET DATA AND MARKET REPORTS: FTSE EUROTOP 300 ..... EUROPEAN REPORT ....... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt market stories CAC-40................. Paris market stories... World Indices..................................... Global markets report............................ Foreign exchange...................................... Oil.................................................... US Treasuries.......................................... International bonds................................... Gold....................................... or CRB index of commodity futures........................ Keywords: MARKETS CANADA/STOCKS (solarina.ho@thomsonreuters.com;+1 416 941 8067; Reuters Messaging: solarina.ho.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.