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CANADA STOCKS-TSX flat on day, set for 5 pct gain for third qtr

Published 2016-09-30, 10:45 a/m
© Reuters.  CANADA STOCKS-TSX flat on day, set for 5 pct gain for third qtr
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* TSX down 7.66 points, or 0.05 percent, to 14,746.89

* Index on track for 5 pct gain in qtr; 1 pct rise for Sept

TORONTO, Sept 30 (Reuters) - Canada's main stock index turned barely lower in morning trade on Friday as materials and energy stocks slipped, offset by small gains for banking and industrial stocks after data showed surprisingly strong economic growth in July.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE is on track for an almost 5 percent gain in the third quarter, and is close to breaking to its highest level in more than a year.

At 10:19 a.m EDT (1419 GMT), it was off 7.66 points, or 0.05 percent, to 14,746.89. Six of its 10 sectors fell, although no group moved more than 0.5 percent in either direction.

The energy group retreated 0.1 percent, although pipeline company Enbridge Inc ENB.TO advanced 1.3 percent to C$58.44.

It, along with Enbridge Income Fund Holdings Inc ENF.TO , said after the close on Thursday that it would sell a regional pipeline system for C$1.075 billion ($818 million). Inc BBDb.TO was also among the most influential movers, up 3.6 percent to C$1.74 after announcing it would supply 665 trains to a British rail operator. rose 0.2 percent.

The Canadian economy got off to a stronger-than-expected start in the third quarter, fueled by a rebound in oil and gas extraction that had been disrupted by wildfires in Alberta earlier this year.

Gross domestic product grew 0.5 percent in July, topping analysts' forecasts for a gain of 0.3 percent. materials group, which includes precious and base metals miners and fertilizer companies, lost 0.2 percent.

Barrick Gold Corp ABX.TO shares were little changed after the miner said it does not expect an ongoing suspension of its operations at the Veladero mine in Argentina to affect its 2016 consolidated gold production.

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