TSX At Highest Since 2015, Led By Banks -- Canadian Commentary

(RTTNews) - Canadian stocks continued to trudge higher Tuesday, with Toronto's main index touching its best levels since 2015.

The S&P/TSX Composite Index was up 30.63 points, or 0.20 percent, to 15,125.80.

Energy stocks were flat, but able to withstand a significant drop in crude oil prices after a recent rally.

Financials remained in rally mode after yet another strong earnings report from the Big Five.

Bank of Montreal (BMO.TO) said its fourth-quarter net income rose 11 percent to $1.35 billion. BMO also joined TD Bank in boosting its dividend. Shares rose 2.4 percent.

Industrial Alliance Financial (IAG.TO) will acquire financial network HollisWealth from ScotiaBank (BNS.TO), whose shares rose 0.5 percent.

Suncor Energy (SU.TO) has resolved a $1.3-billion tax dispute with the Canada Revenue Agency with no new charges or penalties against Canada's largest oil company. Shares were fractionally lower.

WTI light sweet crude oil for January was down 86 cents, or 1.7%, to settle at$50.93/bbl on Nymex.

Prices jumped 12% last week.

Canada's imports fell 6.3% to $44.7 billion in October, while exports increased 0.5% to $43.6 billion, Stats Canada reported.

Consequently, Canada's merchandise trade deficit with the world narrowed from a record $4.4 billion in September to $1.1 billion in October.