June 19, 2017 / 2:56 PM / 3 months ago

CANADA STOCKS-TSX lifted by banks; Hudson's Bay surges on call to explore options

* TSX up 103.63 points, or 0.68 percent, at 15,296.17

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

OTTAWA, June 19 (Reuters) - Canada’s main stock index was lifted by shares of financial firms on Monday, while energy companies got a boost as oil prices steadied after coming under pressure over the past month.

Royal Bank of Canada was the biggest gainer on the index, up 1.0 percent at C$94.47, followed by Toronto-Dominion Bank, which advanced 1.0 percent to C$65.7. The financials group gained 1.0 percent.

The energy group, which accounts for about 30 percent of the index, climbed 0.2 percent as U.S. crude prices rose 0.3 percent to $44.86 a barrel.

Shares of Suncor Energy advanced 0.4 percent to C$39.425, while Canadian Natural Resources rose 0.3 percent to C$37.4.

U.S. activist investor Land & Buildings Investment Management LLC urged the management of Saks Fifth Avenue owner Hudson’s Bay Co to explore strategic options, including going private.

The news sent shares of Hudson’s Bay up 14.9 percent to C$10.20 and helped boost the consumer discretionary sector by 1.3 percent.

In mid-morning trade, the Toronto Stock Exchange’s S&P/TSX composite index was up 103.63 points, or 0.68 percent, at 15,296.17, with all of the index’s 10 main groups in positive territory.

Among individual stocks, Valeant Pharmaceuticals International Inc rose 4.8 percent to C$17.6 after activist investor and hedge fund manager John Paulson joined the company’s board.

Shares of Bombardier advanced 2.0 percent to C$2.52 after the company said it had received seven more orders for its Q400 aircraft from Philippine Airlines.

Gold miners were the main laggards, with the subindex retreating 0.2 percent as the commodity hit a four-week low following hawkish comments from a top U.S. Federal Reserve official.

Agnico Eagle Mines declined 0.9 percent to C$61.42, while Kinross Gold was down 0.6 percent at C$5.38.

Overall, advancing stocks outnumbered declining ones on the TSX by 172 to 69, for a 2.49-to-1 ratio on the upside.

Reporting by Leah Schnurr; Editing by Bernadette Baum

Our Standards:The Thomson Reuters Trust Principles.
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