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CANADA STOCKS-TSX pushes higher amid investor uncertainty

Published 2015-09-10, 11:00 a/m
© Reuters.  CANADA STOCKS-TSX pushes higher amid investor uncertainty
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* TSX up 68.1 points, or 0.5 percent, at 13,599.95
* Nine of the TSX's 10 main groups were higher

By Alastair Sharp
TORONTO, Sept 10 (Reuters) - Canada's main stock index rose
in morning trading on Thursday, buoyed by gains in some
retailers on rosy results, although investor uncertainty
remained over global growth prospects and ahead of a U.S.
Federal Reserve rate decision next week.
Shares in Dollarama Inc DOL.TO rose 4.2 percent to C$83.44
after the discount retailer reported better-than-expected
profit.
At the other end of the retail spectrum, Hudson's Bay Co
HBC.TO also pleased investors with its quarterly results,
pushing its stock up 5.2 percent to C$23.93. ID:nL4N11G40N
Meanwhile, Empire Co Ltd EMPa.TO , owner of the Sobeys
supermarket chain, fell 8 percent to C$84.44 after its quarterly
report.
At 10:42 a.m. ET (1428 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was up 68.1 points, or 0.5
percent, at 13,599.95.
"My sense is the stock market will end the year higher than
where it is today," said Irwin Michael, portfolio manager at ABC
Funds. "Right now, we're going through the indecision and the
lack of clarity in terms of the Federal Reserve and China and
what's happening in Europe."
The most influential gainers also included Canadian Pacific
Railway CP.TO , which rose 2.1 percent to C$194.18, and Sun
Life Financial Inc SLF.TO , which added 3 percent to C$42.31.
The industrials group climbed 1.4 percent, while the
heavyweight financials group retreated 0.2 percent.
On the other side of the ledger, Fairfax Financial FFH.TO
fell 1.9 percent to C$575.08, and Royal Bank of Canada RY.TO
was off 0.3 percent at C$72.22.
Of the index's 10 main groups, nine were in positive
territory. Advancers outnumbered decliners 131 to 110, for a
1.19-to-1 ratio on the upside.
The energy sector gained 0.8 percent, with U.S. crude CLc1
prices up 1.4 percent to $44.76 a barrel and Brent crude LCOc1
adding 0.4 percent to $47.79. O/R

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