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CANADA STOCKS-TSX rises, boosted by financial stocks as earnings in focus

Published 2017-08-02, 11:20 a/m
© Reuters.  CANADA STOCKS-TSX rises, boosted by financial stocks as earnings in focus

* TSX up 17.95 points, or 0.12 percent, at 15,220.05

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

TORONTO, Aug 2 (Reuters) - Canada's main stock index rose on Wednesday, boosted by gains for its heavyweight financial group, while earnings hits and misses moved a string of companies.

The financials group, which accounts for more than a third of the index's weight, gained 0.5 percent overall.

Shares of Genworth MI Canada Inc MIC.TO jumped 7 percent to C$38.75 after the private-sector residential mortgage insurer reported quarterly earnings that sharply exceeded analyst expectations.

The country's biggest banks were also among the most influential gainers, with Royal Bank of Canada RY.TO up 0.8 percent at C$94.17 and Toronto-Dominion Bank TD.TO adding 0.7 percent to C$64.65.

At 10:41 a.m. ET (1441 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 17.95 points, or 0.12 percent, to 15,220.05.

Advancers and decliners were almost evenly matched overall, and half of the TSX's 10 main groups moved higher.

Movie theater chain Cineplex CGX.TO fell 9.1 percent to C$44.98 after reporting a big profit miss, hurt by higher costs and lower attendance. Group Inc GIBa.TO fell 4.1 percent to C$63.63 after the IT services company missed profit estimates on lower margins and bookings as well as weakness in its European business.

Torstar Corp TSb.TO lost 1.4 percent to C$1.43 after the newspaper publisher posted a surprise quarterly loss. gainers included oil services company Gibson Energy Inc GEI.TO , which jumped 9.5 percent to C$17.87 after saying it planned to sell its U.S. environmental services business. Analysts said that could raise between $90 million and $120 million that could be used to pay down debt.

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Restaurant Brands International Inc QSR.TO fell 0.8 percent to C$73.66 as higher revenue at its Burger King group was offset by weakness in comparable sales growth at its Tim Horton coffee and donut chain.

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