(Adds portfolio manager comment, Brookfield deal, Trudeau
comments, updates prices to close)
* TSX ends up 12.93 points, or 0.08 percent, at 15,305.89
* Six of the TSX's 10 main groups move higher
By Alastair Sharp
TORONTO, Dec 21 Canada's main stock index edged
higher on Wednesday for the fifth consecutive session, helped by
industrial stocks such as construction company SNC-Lavalin
, which jumped after winning an oil sands service
SNC-Lavalin rose 2.5 percent to C$58.55. It said a
subsidiary was part of a joint venture that won a five-year deal
to supply engineering and procurement services to an
unidentified "prominent integrated oil company" in Alberta's
The industrial sector gained 0.6 percent overall, with Waste
Connections Inc up 2.1 percent at C$105.89 and Canadian
National Railway Co adding 0.5 percent to C$91.16.
"On the industrial theme, recent economic data in U.S. has
supported that idea that the economy is picking up some steam,"
said Manash Goswami, portfolio manager at First Asset Investment
"We've become a bit more constructive of late and have added
a little more cyclical exposure than we've had in the past," he
The Toronto Stock Exchange's S&P/TSX composite index
ended the day up 12.93 points, or 0.08 percent, at
Six of the index's 10 main groups were in positive
territory, while advancers outnumbered decliners by a 1.3-to-1
Fairfax Financial Holdings Ltd advanced 4.9 percent
to C$666, while the broader financial sector barely gained.
Fairfax said on Sunday it had agreed to buy Swiss insurer
Allied World for $4.9 billion in cash and stock.
Brookfield Asset Management Inc slipped 0.7
percent to C$44.72. The company is close to a deal to buy a
majority stake in a $5 billion natural gas pipeline project in
Peru, that country's finance minister said.
The energy group climbed 0.6 percent, with pipeline company
TransCanada Corp up 0.8 percent at C$61.85.
Prime Minister Justin Trudeau said that U.S. President-elect
Donald Trump was "very supportive" of TransCanada's proposed
Keystone XL crude oil pipeline in their first conversation after
the U.S. election.
Among the heaviest weight in the index was the world's
largest gold producer, Barrick Gold Corp, which fell
1.2 percent to C$18.95. TD Securities cut its call on the stock
to hold from buy and lowered its price target to $18 from $25.
Gold prices steadied above last week's 10-1/2-month low.
Label and packaging maker CCL Industries Inc pulled back 1.8
percent to C$266.25 a day after jumping sharply on its plan to
buy Innovia Group, which supplies the new UK plastic five-pound
note, for around C$1.13 billion.
(Reporting by Alastair Sharp; Editing by Frances Kerry and