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CANADA STOCKS-TSX gains, led by consumer, energy stocks

Published 2017-11-28, 10:10 a/m
© Reuters.  CANADA STOCKS-TSX gains, led by consumer, energy stocks
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* TSX up 41.78 points, or 0.26 percent, at 16,083.90

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

TORONTO, Nov 28 (Reuters) - Canada's main stock index rose in morning trade on Tuesday, with gains among consumer stocks led by a jump in Alimentation Couche-Tard Inc ATDb.TO after its earnings topped expectations and as energy names also moved higher.

* Bank of Nova Scotia BNS.TO , the country's third biggest bank, fell 2.3 percent to C$81.54 after reporting earnings that slightly missed expectations and saying it had agreed to buy Spanish lender Banco Bilbao Vizcaya Argentaria SA's BBVA.MC stake in BBVA Chile BHI.SN for $2.2 billion. That fall was the most influential downward weight on the index, and helped push the heavyweight financials group into the red, the only one of 10 main sectors not in positive territory.

* At 9:46 a.m. ET (1446 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 41.78 points, or 0.26 percent, at 16,083.90.

* Couche-Tard was the biggest positive influence, up 2.9 percent to C$66.09 after reporting both earnings and revenue above consensus analyst expectations.

* The consumer staples group gained 1.2 percent and the consumer discretionary added 1 percent, with discount store chain Dollarama Inc DOL.TO up 2 percent at C$166.59 after Eight Capital raised its price target on the stock to C$185 from C$150.

* The energy group climbed 0.5 percent even as oil prices pulled back, with TransCanada Corp TRP.TO up 1.2 percent to C$64.27 after the pipeline operator said it expects comparable earnings before interest, taxes, depreciation and amortization (EBITDA) to grow at an average annual rate of about 10 percent through 2020 and for its annual dividend to grow at the top end of its previously estimated range of 8-10 percent. The financials group slipped 0.2 percent, while industrials rose 0.2 percent and the materials group, which includes precious and base metals miners and fertilizer companies, added 0.3 percent.

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