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CANADA STOCKS-TSX closes slightly lower as retail losses offset energy, mining gains

Published 2018-02-22, 04:52 p/m
Updated 2018-02-22, 05:00 p/m
© Reuters.  CANADA STOCKS-TSX closes slightly lower as retail losses offset energy, mining gains

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TORONTO, Feb 22 (Reuters) - Canada's main stock index closed marginally lower on Thursday as resource-related gains on a rise in commodity prices were offset by declines in consumer stocks after weak retail sales data, and investors digested a raft of corporate earnings reports.

* The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 15.84 points, or 0.1 percent, at 15,508.17.

* CCL Industries CCLb.TO ended the day with the biggest gains on the index, up 9.3 percent, after the label manufacturer reported better-than-expected fourth-quarter profits. Mining-related companies SNC-Lavalin Group SNC.TO and Kirkland Lake Gold KL.TO and energy companies Peyto Exploration & Development PEY.TO , Secure Energy Services SES.TO were among the biggest gainers.

* SNC-Lavalin's profit topped expectations and the company gave a strong forecast for 2018. Spot gold prices XAU= rose 0.55 percent to $1,330.89 an ounce, while silver XAG= advanced 0.7 percent to $16.608 an ounce. Base metals also rose, with copper futures CMCU3 up 0.6 percent at $7,162 a tonne.

* Oil futures joined the uptrend, with U.S. crude climbing 1.6 percent to $62.69 a barrel.

* The basic materials group on the TSX was the biggest gainer, rising 0.4 percent, followed by energy, with a 0.3 percent advance.

* Infrastructure services provider Stantec Inc STN.TO was the biggest decliner on the index, sliding 11 percent after its fourth-quarter earnings missed estimates. Canada Goose GOOS.TO and Gildan Activewear GIL.TO were among the biggest decliners on the index, falling 4.6 percent and 3 percent respectively.

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* Canadian retail sales unexpectedly declined in December, putting fourth-quarter economic growth on track to be below the central bank's forecast. Despite the gains in metal prices, gold producers IAMGOLD Corp IMG.TO and Alamos Gold AGI.TO were among the biggest decliners, retreating 8.4 percent and 7.1 percent respectively after reporting fourth-quarter losses.

* There were 114 advancing issues and 126 declining ones. Ten were flat.

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