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CANADA STOCKS-TSX rises 1 pct as resource, industrial stocks jump

Published 2015-10-28, 10:26 a/m
© Reuters.  CANADA STOCKS-TSX rises 1 pct as resource, industrial stocks jump
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* TSX up 138.91 points, or 1.01 percent, to 13,838.91
* Eight of the TSX's 10 main groups rise

TORONTO, Oct 28 (Reuters) - Canada's main stock index jumped
1 percent on Wednesday, led by energy companies, gold miners and
railway stocks, while consumer names weighed.
Among major stock index movers were Canadian National
Railway CNR.TO , which rose 3.9 percent to C$82.57 as higher
freight rates helped it report a lift in revenue despite lower
volumes.
Barrick Gold Corp ABX.TO advanced 4.7 percent to C$10.49,
as the price of bullion pushed above $1,170 an ounce ahead of a
U.S. Federal Reserve rate policy decision.
The overall materials group, which includes miners, climbed
2.1 percent, while industrial stocks were up 1.9 percent.
At 10:12 a.m. ET (1412 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was up 138.91 points, or 1.01
percent, to 13,838.91.
Advancers outnumbered decliners by 197 to 40, for a 4.9-to-1
ratio on the upside.
On the negative side, convenience store chain Alimentation
Couche-Tard ATDb.TO slipped 2.3 percent to C$57.47 and Cott
Corp BCB.TO fell 8.9 percent to C$13.83 after the beverage
company's earnings missed expectations.
The consumer staples group was down 1.1 percent, and
discretionary names also slipped.
The energy group see-sawed in early trade and was last up 2
percent, with Canadian Natural Resources CNQ.TO up 2.5 percent
at C$30.31.
U.S. crude CLc1 prices were up 1.1 percent to $43.68 a
barrel, while Brent LCOc1 added 1.1 percent to $47.30.
Investors await the U.S. Federal Reserve monetary policy
announcement later in the session. While the central bank is not
expected to raise rates at the meeting, traders will parse the
statement for clues on when it will pull the trigger.

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