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CANADA STOCKS-TSX falls as banks, consumer names weigh; Bombardier jumps

Published 2017-07-28, 10:35 a/m
© Reuters.  CANADA STOCKS-TSX falls as banks, consumer names weigh; Bombardier jumps
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* TSX down 94.69 points, or 0.62 percent, at 15,096.67

* Nine of the TSX's 10 main groups fall; energy up 0.5 pct

TORONTO, July 28 (Reuters) - Canada's main stock index pulled back on Friday, weighed by slips in heavyweight financial stocks and most of its consumer names despite strong domestic data, while plane and train maker Bombardier Inc BBDb.TO surged after reporting a surprise profit.

At 10:21 a.m. ET (1421 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 94.69 points, or 0.62 percent, at 15,096.67.

The index, which has lagged global peers so far this year as its large energy group has weighed, is on track for a 0.6 percent slip on the week.

Bombardier jumped 5.4 percent to C$2.54 after posting its first quarterly profit in two years and saying it expects 2017 earnings before interest and tax to come in at the higher end of its forecast. the other side of the ledger, First Quantum Minerals FM.TO fell 2.8 percent to C$13.60 after reporting a loss versus expectations of profit.

Consumer names dragged, even as data showed Canada's economy accelerated far more than expected in May. supplier Magna International Inc MG.TO fell 2.2 percent to C$59.22 and convenience store operator Alimentation Couche Tard Inc ATDb.TO lost 1.7 percent to C$59.91.

Banks also weighed, with Royal Bank of Canada RY.TO down 0.9 percent at C$92.41 and Toronto-Dominion Bank TD.TO losing 0.9 percent to C$63.66, even as bond yields rose.

The energy group was the only one of the index's 10 main sectors to rise on the day, adding 0.5 percent as crude oil prices reached new two-months highs. O/R

The country's No.2 pipeline company, TransCanada Corp TRP.TO , gained 1 percent to C$64.20 after reporting better-than-expected profit, while its No.2 integrated oil producer and refiner, Imperial Oil Ltd IMO.TO , slipped 0.3 percent to C$37.11 after reporting a smaller second-quarter loss and higher revenue. and surveillance company MacDonald Dettwiler and Associates Ltd MDA.TO rose 4 percent to C$66.09 after shareholders in the company and its acquisition target DigitalGlobe Inc DGI.N approved those plans. The deal still requires U.S. regulatory approval.

Hudson's Bay Co HBC.TO edged higher, up 0.3 percent at C$10.80, after confirming plans to open first namesake department store in Canada in at least five years.

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