(RTTNews) - Toronto’s main index was clinging to its early gains in Thursday’s late afternoon dealing, supported significant gains in the financial sector.

The S&P/TSX Composite Index is up 150 points at 13,680.21, extending its big gains from the previous session.

Bank stocks are seeing significant buying interest as traders weighed the final three earnings reports from Canada’s big six lenders. TD Bank (TD.TO) reported that its profit dropped 9 percent but unexpectedly raised its divedend, while Royal Bank’s (RY.TO) writedowns were not as severe as many analysts were predicting.

Meanwhile, National Bank (NA.TO) reported record third quarter earnings while announcing a dividend of C$0.62 per share for the quarter.

Shares of all six big banks are up sharply, led by Royal Bank, which has risen 6 percent.

The Industrial Index is up 2.8 percent, boosted by stellar performances from Transat (TRZ.B.TO) and WestJet (WJA.TO).

Tech stocks are also seeing strength. Open Text (OTC.TO) is up 5.7 percent, while Nortel Networks (NT.TO) has risen 2.4 percent.

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Posted in Categories: Canada, Releases, Stocks.

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