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CANADA STOCKS-TSX near flat as telecom losses offset resource share gains

Published 2017-11-22, 05:18 p/m
© Reuters.  CANADA STOCKS-TSX near flat as telecom losses offset resource share gains
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* TSX ends down 3.07 points, or 0.02 percent, at 16,073.58

* Five of the TSX's 10 main groups end lower

TORONTO, Nov 22 (Reuters) - Canada's main stock index was little changed on Wednesday, hovering below a recent record high, as losses for industrial and telecommunication shares offset gains for resource stocks, which were boosted by higher commodity prices.

* The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed down 3.07 points, or 0.02 percent, at 16,073.58.

* Intraday gains for the index stalled just below its all-time high of 16,131.79 on Nov. 7.

* The telecommunications group fell 0.8 percent, while industrials dipped 0.2 percent as Ritchie Bros. Auctioneers Inc RBA.TO retreated 2.7 percent to C$32.46.

* Five of the index's 10 main groups were in negative territory.

* The energy group, which accounts for almost a fifth of the index's weight, climbed 0.4 percent as U.S. crude CLc1 prices reached $58 for the first time since July 2015.

* U.S. crude oil futures settled up 2.1 percent at $58.02 a barrel. The largest percentage gainer on the TSX was NexGen Energy Ltd NXE.TO , which rose nearly 8 percent to C$3.38.

* The move higher for oil was in part due to TransCanada Corp TRP.TO cutting crude flows from Canada into the United States. TransCanada fell nearly 2 percent to C$62.99.

* The materials group, which includes precious and base metals miners and fertilizer companies, added 0.5 percent.

* Gold prices rose as the dollar fell on technical factors and weak U.S. economic data, and gold jumped more after the U.S. Federal Reserve released minutes of its latest meeting.

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