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CANADA STOCKS-Resource shares, earnings beats lead TSX higher

Published 2016-07-27, 10:37 a/m
© Reuters.  CANADA STOCKS-Resource shares, earnings beats lead TSX higher
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(Adds details on stocks, sectors; updates prices)

* TSX up 51.96 points, or 0.36 percent, to 14,601.96

* Six of the TSX's 10 main groups move higher

TORONTO, July 27 (Reuters) - Canada's main stock index rose on Wednesday as gold miners and other resource issues gained and investors bought shares of companies that reported stronger-than-expected results.

The most influential gainers included grocery chain Loblaw Cos Ltd L.TO , which rose 3.4 percent to C$73.28, and technology company CGI Group Inc GIBa.TO , which advanced 3.5 percent to C$60.86, after both beat earnings expectations.

But Toronto Star publisher Torstar Corp TSb.TO fell 3.6 percent to C$1.60 after reporting a wider loss and cutting their dividend. 10:07 a.m. EDT (1407 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 51.96 points, or 0.36 percent, to 14,601.96.

Six of the index's 10 main groups were in positive territory, with advancers outnumbering decliners by a ratio of 2.7-to-1.

The materials group, which includes precious and base metals miners and fertilizer companies, added 1.4 percent.

Barrick Gold Corp ABX.TO advanced 2.3 percent to C$27.60, while Goldcorp Inc G.TO gained 1.6 percent to C$24.55.

Gold steadied near $1,320 an ounce ahead of the outcome of a two-day Federal Reserve policy meeting, which will be closely watched for any clues on the scale and pace of U.S. interest rate hikes this year. GOL/

Alaris Royalty Corp AD.TO slumped 10 percent to C$26.40 after sharply missing earnings expectations and providing a weaker-than-expected outlook after markets closed on Tuesday.

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Gildan Activewear Inc GIL.TO fell 4.3 percent to C$39.14 after reporting results and a weaker-than-expected outlook. energy group climbed 0.8 percent, with Suncor Energy Inc SU.TO up 0.9 percent to C$35.33 and Canadian Natural Resources CNQ.TO adding 0.7 percent to C$40.05.

Oil prices steadied on Wednesday after dipping close to two-month lows on bets U.S. government oil inventory data for last week will show drawdowns closer to market expectations. O/R

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