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CANADA STOCKS-TSX falls with resources, banks; Shaw shines

Published 2017-06-13, 11:07 a/m
© Reuters.  CANADA STOCKS-TSX falls with resources, banks; Shaw shines
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* TSX down 45.72 points, or 0.3 percent, at 15,338.08

* Nine of the TSX's 10 main groups move lower

TORONTO, June 13 (Reuters) - Canada's main stock index fell on Tuesday as heavyweight banking, energy and mining stocks weighed, while Shaw Communications Inc SJRb.TO jumped after announcing deals to sell its data center business and buy wireless airwaves.

Shaw was the most influential gainer on the index, up 2.5 percent to C$29.26 after the news. Canada Inc SCC.TO meanwhile sank 30 percent to 80 Canadian cents after the retailer flagged doubts about its ability to continue as a going concern and said it was exploring strategic options, including a sale of the company. index's heavyweight financial and natural resource sectors weighed, with the energy group down 0.5 percent as oil prices CLc1 LCOc1 slipped after OPEC reported an increase in its production for May. O/R

The financials group slipped 0.4 percent, with alternative lender Home Capital Group Inc HCG.TO down 7.5 percent to C$11.25, while the materials group, which includes precious and base metals miners and fertilizer companies, lost 0.6 percent.

First Quantum Minerals Ltd FM.TO fell 4 percent to C$11.44, as copper prices CMCU3 eased from a near two-month high.

At 10:43 a.m. ET (1443 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 45.72 points, or 0.3 percent, to 15,338.08.

Nine of the index's 10 main groups were in negative territory, with decliners outnumbering advancers by a 1.4-to-1 ratio.

Interest rate cuts instituted in 2015 have largely done their job as the Canadian economy gathers momentum, the Bank of Canada's head said on Tuesday, the second top official in as many days to set the stage for eventual rate hikes.

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