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CANADA STOCKS-TSX little changed as investors weigh earnings reports

Published 2018-02-22, 10:40 a/m
© Reuters.  CANADA STOCKS-TSX little changed as investors weigh earnings reports
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Feb 22 (Reuters) - Canada's main stock index was little changed on Thursday as investors took in a raft of corporate earnings and as resource-related shares benefited from a rise in commodity prices.

* At 10:15 a.m. ET (15:15 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 20.68 points, or 0.13 percent, at 15,544.69.

* Magna International Inc MG.TO provided one of the biggest boosts to the index, rising 2.3 percent to C$71.19 a share after the auto parts maker's quarterly results were lifted by higher sales in Europe and the launch of new cars for BMW and Jaguar. Canadian Imperial Bank of Commerce CM.TO rose 0.5 percent to C$117.07 a share after its quarterly results topped expectations on a strong performance in all business units and an expansion in the United States. But the financial sector .SPTTFS as a whole gave up an early advance to trade 0.1 percent lower, with Bank of Nova Scotia BNS.TO down 0.5 percent at C$77.60 a share.

* The energy group .SPTTEN climbed 0.4 percent as U.S. crude CLc1 prices rose 0.2 percent to $61.83 a barrel after a surprise decline in inventories. O/R

* A gain in spot gold prices XAU= also boosted the resource sector .GSPTTMT by 1.0 percent, with shares of Teck Resources TECKb.TO up 1.8 percent at C$37.58 a share.

* Among other companies that reported results, SNC-Lavalin SNC.TO advanced 3.4 percent to C$55.28 a share after its profit topped expectations and the company gave a strong forecast for 2018. On the downside, Loblaw Cos Ltd L.TO declined 1.7 percent to C$64.22 a share following its quarterly report. The TSX posted three new 52-week highs, while volume on the index was 37.77 million shares.

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