TSX rises higher
TORONTO (Reuters) - The Toronto Stock Exchange's main index finished higher yesterday, ending a volatile session with a lift from financial shares.
The index ends the month down 6.4 percent, its biggest monthly decline since September 2002, even after a rally this week helped recover some of November's steep losses.
The financial sector rose 1.2 percent yesterday despite a drop in Royal Bank of Canada shares after it reported slower profit growth for its fourth quarter.
The financial sector has been plagued recently by news of write-downs in Canada and the US, but it got support this week from the financial results of some of Canada's big banks, including a 44 percent profit jump at Toronto-Dominion Bank .
Royal, the country's biggest bank, closed down 67 Canadian cents, or 1.3 percent, at C$53.00, while Toronto-Dominion was up C$3.20, or 4.5 percent, at C$75.00.
The S&P/TSX composite index closed up 25.23 points, or 0.18 percent, at 13,689.12 with eight of its 10 main sectors higher.
The industrials sector also provided buoyancy, gaining 1.5 percent after SkyWest Inc placed an order for jets from Bombardier Inc. in a deal worth about $773 million.
Plane and train maker Bombardier was up 20 Canadian cents, or 3.4 percent, at C$6.05.
The materials sector added 0.4 percent, pulled higher by fertiliser producer Potash Corp of Saskatchewan, which was among the biggest gainers on the index by weight.
Potash was up C$3.30, or 2.9 percent, at C$118.80
On the downside, the energy sector took its cue from the price of oil, slipping 0.9 percent down as the commodity hit a one-month low on US economic worries.
Crude was down $2.30 at $88.71 a barrel. Suncor Energy fell C$1.89, or 1.9 percent, to C$95.61, and Canadian Natural Resources gave up C$2.11, or 3.2 percent, to C$64.92.