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The Toronto stock market was higher Thursday afternoon, lifted by a run of positive corporate earnings news from the big banks and the retail sector.

The S&P/TSX composite index rose 71.61 points, or 0.47 per cent, to 15,300.18. But gains were limited by falling energy stocks as April crude contracts in New York declined $1.41 to $49.58 (U.S.) a barrel.

The Canadian dollar declined 0.37 of a U.S. cent to 80.13 cents.

New York indexes were mixed as the Dow Jones industrials slide 11.35 points, or 0.06 per cent to 18,213.22, the S&P 500 fell 1.43 points, or 0.07 per cent, to 2,112.43 and the Nasdaq gained 16.95 points, or 0.34 per cent, to 4,984.09.

The TSX financials sector gained 1.2 per cent as the parade of bank earnings this week continued with results from CIBC and TD Bank.

CIBC exceeded analyst expectations as adjusted quarterly net income was $956-million or $2.36 (Canadian) a share, beating estimates of $2.27 a share. Net earnings fell from $1.177-billion a year ago when the bank had a one-time gain from its Aeroplan credit card business to $923-million or $2.28 a share. The bank also hiked its quarterly dividend by three cents a share to $1.06 and its shares ran ahead $3.72 to $95.94.

TD shares advanced $1.07 to $55 as the bank earned $2.06-billion or $1.09 per diluted share for the quarter, compared with a profit of $2.04-billion or $1.07 per diluted share a year ago. Revenue of $7.61-billion exceeded forecasts of $7.1-billion while adjusted earnings were $2.12-billion or $1.12 per share, which met expectations. TD also upped its quarterly dividend by four cents to 51 cents a share.

Loblaw Companies Ltd. more than doubled its fourth-quarter profit, driven by its acquisition of Shoppers Drug Mart. Net income for the grocery, pharmacy and clothing retailer was $247-million or 60 cents a share. Adjusted net earnings were $396-million or 86 cents a share while revenue was $11.4-billion, up 49 per cent from a year ago and its shares climbed $1.60 to $65.95.

Canadian Tire earned $206.6-million or $2.44 per diluted share in its fourth quarter compared with a profit of $191-million or $2.32 per diluted share a year ago. Revenue totalled $3.65-billion, up from $3.33-billion in the fourth quarter of 2013, which was one week shorter. Same-store sales were up 2.8 per cent at Canadian Tire and 4.9 per cent at its FGL Sports banners, including a 9.4 per cent gain at Sport Chek. Canadian Tire jumped $8.21 or 6.7 per cent to $130.80.

The base metals sector rose two per cent with metal prices higher as May copper headed up three cents to $2.68 (U.S.) a pound.

The gold sector was up 1.5 per cent while April gold gained $6.70 to $1,208.20 an ounce.

On the economics calendar, Statistics Canada reported that its consumer price index fell by 0.2 per cent during the month of January because of tumbling gasoline prices.

Inflationary pressures were similarly soft in the U.S. last month. The American consumer price index tumbled 0.7 per cent in January, again because of falling fuel prices.

Other data out Thursday showed that U.S. durable goods orders climbed 2.8 per cent during January.

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