* TSX up 79.66 points, or 0.51 percent, to 15,586.13
* Nine of the TSX's 10 main groups were up
By Solarina Ho
TORONTO, April 28 Canada's main stock index rose
on Friday as banks and mining companies, heavyweights on the
index, rebounded from the previous day's slump.
The Toronto Stock Exchange's S&P/TSX composite index
rose 79.66 points, or 0.51 percent, to 15,586.13. The
index eked out a small 0.2 percent gain on the week.
Of the index's 10 main groups, all but industrials, which
fell 0.1 percent, gained during the session.
The materials group, which includes precious and base metals
miners and fertilizer companies, ended 1.9 percent higher.
"They've been weak all week. Principally, they're a little
bit better when the GDP came out in the United States," said
John Ing, president of Maison Placements Canada. "That
alleviates any pressure on rates so that caused that group to be
a little bit better."
Economic data showed the U.S. economy grew at its weakest
pace in three years during the first quarter.
Gold miner Agnico Eagle Mines Ltd led the group's
gains, soaring 10.5 percent to C$65.25 after the company beat
profit and revenue estimates and raised its production forecast
after markets closed on Thursday. Detour Gold Corp also
surged, jumping 13.5 percent to C$17.25 after reporting positive
The financials group was heavily traded on Friday but only
saw a 0.3 percent gain after taking a 1.7 percent hit the day
before over jitters that mortgage lender Home Capital Group
Inc's woes could spill into the broader sector.
Thomson Reuters Corp shares rose 4.0 percent to
C$62.03 after the company's reported higher than expected
first-quarter results and reaffirmed its outlook amid improving
results across its businesses.
The most influential stock on the index was Suncor Energy
Inc, which posted a profit beat this week and said it
planned to buy back shares. The country's largest oil and gas
producer rose 2.5 percent to C$42.78. The overall energy group
climbed 0.8 percent.
On the domestic data front, the Canadian economy stalled in
February after a healthy start to the year but is still on track
to meet and possibly exceed the Bank of Canada's forecast for
first-quarter annualized growth, analysts said.
Advancing issues outnumbered declining ones on the TSX by
166 to 79, for a 2.10-to-1 ratio on the upside.
The index was posting 16 52-week highs and one new low.
(Reporting by Solarina Ho; Editing by Bill Trott)