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CANADA STOCKS-TSX flat as financials gain, energy stocks fall

Published 2018-01-18, 10:43 a/m
© Reuters.  CANADA STOCKS-TSX flat as financials gain, energy stocks fall

* TSX down 3.79 points, or 0.02 percent, at 16,322.91

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

TORONTO, Jan 18 (Reuters) - Canada's main stock index was barely lower in morning trade on Thursday, as banks and other financial stocks pushed higher while the index was weighed by energy stocks including Husky Energy Inc HSE.TO , which has had its SeaRose operations suspended.

* Husky fell 3.7 percent to C$18.36 after it said on Wednesday evening that Canadian regulators had ordered it to halt operations at its SeaRose floating production vessel after an iceberg came too close to the facility in March 2017. The broader energy group retreated 0.4 percent, as oil prices were weighed by a reported rise in U.S. fuel stocks and expectations that OPEC-led efforts to cut output will boost supply from the United States and other rivals. O/R

* The financials group gained 0.2 percent, adding to a move higher after the Bank of Canada raised interest rates on Wednesday. Home Capital Group Inc HCG.TO fell 1.1 percent to C$15.33 after the country's biggest alternative lender said on Wednesday it had received a statement of claim from short seller Marc Cohodes, who is seeking C$4 million ($3.2 million) in damages. At 10:34 a.m. EST (1534 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 3.79 points, or 0.02 percent, at 16,322.91. Six of the index's 10 main groups were in positive territory, although decliners were slightly outnumbering advancers.

* The materials group, which includes precious and base metals miners and fertilizer companies, added 0.3 percent.

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* Oceanagold Corp OGC.TO rose 4.7 percent to C$3.33 after saying it produced a record amount of gold in 2017. Ivanhoe Mines Ltd IVN.TO , which is developing a project in the Democratic Republic of Congo, advanced 1.9 percent to C$4.21, while Hudbay Minerals Inc HBM.TO fell 6.2 percent to C$11.73 after it released its 2018 production and cost guidance.

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