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CANADA STOCKS-TSX makes small gain, on track for flat week

Published 2016-12-02, 10:54 a/m
© Reuters.  CANADA STOCKS-TSX makes small gain, on track for flat week
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(Adds details on specific stocks, updates prices)

* TSX up 37.98 points, or 0.25 percent, to 15,065.51

* Index on track for flat week after hitting near 18-month high

TORONTO, Dec 2 (Reuters) - Canada's main stock index eked out a small gain in morning trade on Friday as miners rose with gold and financial stocks pulled back at the end of a busy week of earnings.

Energy stocks also moved lower after notching sharp gains earlier in the week as an OPEC deal to curtail production sent crude prices soaring, with Suncor Energy Inc SU.TO down 0.8 percent at C$42.625.

At 10:25 a.m. EST (1525 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 37.98 points, or 0.25 percent, to 15,065.51.

It is on track for a flat performance for the week, after hitting a near 18-month high on Thursday.

The financials group slipped 0.3 percent, with insurer Manulife Financial Corp MFC.TO retreating 1.5 percent to C$23.10. It has jumped sharply since early November on rising bond yields.

National Bank of Canada NA.TO add 0.3 percent to C$50.98 after the country's sixth biggest lender posted a better-than-expected adjusted profit for the fourth quarter. most influential gainers on the index included Barrick Gold Corp ABX.TO , the world's largest gold producer, which rose 3.5 percent to C$20.72, and diversified miner Teck Resources Ltd TCKb.TO , which added 2.3 percent, to C$33.26.

Gold futures GCc1 rose 0.6 percent to $1,173.4 an ounce while copper prices CMCU3 fell 0.5 percent to $5,763.5 a tonne. GOL/ MET/L

The materials group, which includes precious and base metals miners and fertilizer companies, added 1.6 percent.

Turquoise Hill Resources Ltd TRQ.TO fell 2.5 percent to C$4.34. The Canadian copper miner said it had suspended shipments from its Oyu Tolgoi mine in Mongolia across the Chinese border, a day after the imposition of new fees on commodity shipments between the two countries. Inc BBDb.TO rose 1.9 percent to C$1.865. The planemaker said it has won orders for three aircraft from Tanzania. consumer staples names also gained, with convenience store operator Alimentation Couche Tard Inc ATDb.TO up 1.6 percent to C$61.16 and supermarket chain Loblaw Cos Ltd L.TO adding 1 percent to C$69.96.

The Canadian economy added 10,700 jobs in November, and the jobless rate fell to a five-month low of 6.8 percent, although part-time work accounted for the gains for the second month in a row, Statistics Canada said.

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