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CANADA STOCKS-TSX ekes out gain, Canadian Natural leads earnings winners

Published 2017-08-03, 10:41 a/m
Updated 2017-08-03, 10:50 a/m
CANADA STOCKS-TSX ekes out gain, Canadian Natural leads earnings winners

CANADA STOCKS-TSX ekes out gain, Canadian Natural leads earnings winners

* TSX up 13.31 points, or 0.09 percent, to 15,278.94

* Six of the TSX's 10 main groups move higher

* But decliners outnumber advancers by 1.6-to-1

TORONTO, Aug 3 (Reuters) - Canada's main stock index eked out a small gain in morning trading on Thursday, boosted by shares of companies reporting positive earnings surprises, including Canadian Natural Resources Ltd CNQ.TO .

The major oil sands operator's stock jumped 3.6 percent to C$39.99 after it reported quarterly profit that topped estimates and said it will cut capital spending. companies getting earnings-related boosts included gold miners Kinross Gold Corp K.TO and smaller rival Alamos Gold Inc AGI.TO as well as financial services company Altus Group Ltd AIF.TO .

Kinross added 7.3 percent to C$5.58, Alamos jumped 9.3 percent to C$9.61, and Altus surged 13.9 percent to C$13.01.

The gains were offset by a sharp fall in shares of Seven Generations Energy Ltd VII.TO , down 8 percent at C$18.86, after the natural gas developer lowered its 2017 production guidance while keeping its capital budget unchanged.

A 15.4-percent plunge in Sierra Wireless Inc SW.TO stock also weighed on the market after the technology company missed earnings expectations, provided lower-than-expected guidance, and announced a plan to buy another company.

Major telecom company BCE Inc BCE.TO slipped 0.8 percent to C$58.94 after reporting strong wireless business growth that was offset by weakness in its fixed-line operations and higher expenses. 10:14 a.m ET (1414 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 13.31 points, or 0.09 percent, to 15,278.94.

Six of the index's 10 main sectors moved higher, although decliners were outnumbering advancers by a 1.6-to-1 ratio overall.

Alternative lender Home Capital Group HCG.TO was down 4.1 percent to C$13.20 saying it expects tougher new rules on mortgage lending proposed by Canada's financial regulator to have a material impact on its business. supplier Linamar Corp LNR.TO rose 1.3 percent to C$68.76 after reporting higher-than-expected quarterly earnings and revenue after the bell on Wednesday.

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