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CANADA STOCKS-TSX little changed as miners offset modest gains
July 13, 2017 / 2:44 PM / 2 months ago

CANADA STOCKS-TSX little changed as miners offset modest gains

* TSX down 1.4 points, or 0.01 percent, to 15,142.59

* Six of the TSX’s 10 main groups were down

TORONTO, July 13 (Reuters) - Canada’s main stock index were flat on Thursday, with most sectors little changed a day after the Bank of Canada raised interest rates for the first time in seven years.

The increase spurred some pockets of concern over the longer term impact on exporters, higher borrowing costs and consumer spending.

At 10:27 a.m. ET (1427 GMT), the Toronto Stock Exchange’s S&P/TSX composite index seesawed lower, down 1.4 points, or 0.01 percent, at 15,142.59.

Of the index’s 10 main groups six were in negative territory.

Financial stocks, which account for about a third of the index’s weight, made up half of the 10 most influential stocks on the positive side, gaining 0.2 percent, but individual stock moves were very small.

Technology stocks were among the index’s stronger performers, with Open Text Corp rising for the fifth straight session up 1.5 percent at C$41.60. Shopify Inc advanced 0.6 percent to C$121.38.

Energy stocks climbed 0.3 percent, as oil prices remained little changed after evidence of stronger demand in China balanced reports of higher production by key OPEC exporters. U.S. crude futures were up 0.9 percent to $45.89 a barrel.

Alimentation Couche Tard Inc was the biggest drag on the index, falling 1.6 percent to C$61.38. The pull back came a day after shares climbed 3.7 percent on better than expected fourth quarter results. The overall consumer staples group fell 0.4 percent.

Mining stocks lost 0.3 percent, with Agnico Eagle Mines Ltd declining 1.4 percent to C$56.10. Kinross Gold Corp falling 2.4 percent to C$4.85.

Declining issues outnumbered advancing ones on the TSX by 130 to 111, for a 1.17-to-1 ratio on the downside. (Reporting by Solarina Ho; Editing by Marguerita Choy)

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