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CANADA STOCKS-TSX inches higher on energy, financial gains; miners weigh
January 11, 2017 / 3:34 PM / 10 months ago

CANADA STOCKS-TSX inches higher on energy, financial gains; miners weigh

(Adds details on specific stocks, updates prices)

* TSX up 15.25 points, or 0.1 percent, to 15,441.53

* Six of the TSX’s 10 main groups slip

TORONTO, Jan 11 (Reuters) - Canada’s main stock index made slight gains in morning trade on Wednesday as heavyweight energy and financial stocks rose but were offset by falling gold miners.

Plane and train maker Bombardier Inc advanced 4.1 percent to C$2.57 after a consortium in which it has a 30 percent stake won a 1.16 billion euro contract to supply commuter trains for the Paris region.

Investors were broadly cautious ahead of an 11 a.m. ET (1600 GMT) news conference by U.S. President-elect Donald Trump.

At 10:08 a.m., the Toronto Stock Exchange’s S&P/TSX composite index was up 15.25 points, or 0.1 percent, to 15,441.53. Advancing stocks were barely outnumbering decliners, with six of the index’s 10 main groups lower.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.9 percent, as gold miners featured among the index’s heaviest weights even as bullion hit six-week highs.

Teck Resources Ltd jumped 6 percent to C$31.40 and First Quantum Minerals Ltd rose 3.3 percent to C$16.40, as copper prices traded just off a four-week high after Chinese and global economic data fueled expectations for firm demand this year.

The energy group climbed 0.7 percent, as oil prices rose for the first time in three days following news of Saudi supply cuts to Asia.

The financials group gained 0.3 percent, with insurer Manulife Financial Corp up 1.2 percent at C$24.84.

Corus Entertainment Inc fell 1.9 percent to C$13.02 after the media company’s profit missed expectations.

Department store operator Hudson’s Bay Co fell 5.9 percent to C$9.56, extending a sharp fall to a record low in the prior session as its poor holiday season sales and lower outlook led several banks to slash price targets on the stock. (Reporting by Alastair Sharp; Editing by Paul Simao)

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