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CANADA STOCKS-TSX steady as energy shares rise, materials slip

Published 2018-01-09, 11:04 a/m
© Reuters.  CANADA STOCKS-TSX steady as energy shares rise, materials slip
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* TSX rises 9.89 points, or 0.06 percent, to 16,327.54

* Six of the index's 10 main groups fall

* Energy group gains 0.7 percent

* Materials sector falls 0.7 percent

TORONTO, Jan 9 (Reuters) - Canada's main stock index was little changed on Tuesday as shares of energy and marijuana producers rose, balancing a dip in the materials group which was pressured by a drop in gold prices.

* At 10:45 a.m. EST (15:45 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE rose 9.89 points, or 0.06 percent, to 16,327.54.

* The energy group gained 0.7 percent as the price of crude oil rose to its highest since May 2015. Shares of Encana Corp ECA.TO advanced 1.7 percent to

C$16.84 after the company estimated fourth-quarter production from its core assets would top its own forecast, while U.S. crude CLc1 prices were up 0.4 percent at $61.99 a barrel. The largest percentage gainer on the TSX was Pure Industrial Real Estate Trust, which rose 20.8 percent after it said it will be bought by a Blackstone (NYSE:BX) Group BX.N affiliate in an all-cash deal valued at about C$2.48 billion.

* Marijuana producers were also among the biggest gainers. Canopy Growth Co WEED.TO climbed 8.3 percent to C$119.19 and Aphria Inc APH.TO was up 10.4 percent at C$24.27.

* Six of the index's 10 main groups fell.

* The materials group, which includes precious and base metals miners and fertilizer companies, fell 0.7 percent as gold miners lost ground.

* Spot gold XAU= retreated 0.8 percent to $1,311.53 an ounce, weighed down by a firmer U.S. dollar .DXY and buoyant global stock markets. Nutrien Ltd NTR.TO , the fertilizer company formed last week by a merger of Potash Corp of Saskatchewan and Agrium, fell 1.5 percent to C$65.87.

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