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CANADA STOCKS-TSX rises with banks, miners; energy stocks weigh

Published 2017-10-02, 10:30 a/m
© Reuters.  CANADA STOCKS-TSX rises with banks, miners; energy stocks weigh

* TSX up 39.63 points, or 0.25 percent, at 15,674.57

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

* Energy sector off 1.1 pct as crude prices fall

TORONTO, Oct 2 (Reuters) - Canada's main stock index rose on Monday as broad gains led by its heavyweight financial components offset the weight of energy stocks' retreat with lower oil prices.

Jean Coutu Group PJCa.TO gained 1.8 percent to C$24.74 after grocery company Metro Inc MRU.TO said it would buy the pharmacy chain for C$24.50 a share. Metro's stock edged down to C$42.73. financials group, which accounts for more than a third of the index's weight, added 0.3 percent overall, with Toronto-Dominion Bank TD.TO up 0.5 percent to C$70.60 and Bank of Nova Scotia BNS.TO also adding 0.5 percent, to C$79.77.

At 10:07 a.m. ET (1407 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 39.63 points, or 0.25 percent, at 15,674.57.

Of the index's 10 main groups, only the energy group was in negative territory, down 1.1 percent as crude oil prices were pressured by signs of higher output. O/R

The most influential weights included Suncor Energy Inc SU.TO , which fell 1.1 percent to C$43.27.

Smaller producers took larger hits, with MEG Energy Corp MEG.TO declining 4.7 percent to C$5.23 and Crew Energy Inc CR.TO off 4.5 percent at C$4.24. Cenovus Energy CVE.TO lost 1.6 percent to C$12.32.

Diversified miner Teck Resources Ltd TECKb.TO rose 1.8 percent to C$26.75 as copper held steady and lead and zinc prices jumped.

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

Industrials rose 0.2 percent. The pace of growth in the Canadian manufacturing sector edged up in September on increased demand, while a rise in prices suggested companies faced inflationary pressures, data showed. crude CLc1 prices were down 2.7 percent at $50.29 a barrel, while Brent crude LCOc1 lost 2.1 percent to $55.61.

($1 = 1.2497 Canadian dollars)

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