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CANADA STOCKS-TSX flat on day, heads for 1.9 pct gain on week
September 22, 2017 / 2:25 PM / in a month

CANADA STOCKS-TSX flat on day, heads for 1.9 pct gain on week

(Adds details on specific stocks, updates prices)

* TSX down 1.42 points, or 0.01 percent, at 15,453.50

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

TORONTO, Sept 22 (Reuters) - Canada’s main stock index was flat on Friday but on track for a 1.9 percent gain on the week as financial stocks pushed higher and a bid for bullion on rising tension between North Korea and the United States boosted gold miners.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.2 percent, while the financials group also gained 0.2 percent.

Kirkland Lake Gold rose 1.2 percent to C$16.31 after National Bank of Canada started coverage on the stock with an outperform rating. Tahoe Resources gained 2.8 percent to C$7.09 after the miner increased its 2017 gold production outlook and cut its spending plans.

Gold prices recovered from a four-week low on a bid for safety as North Korea said it might test a hydrogen bomb over the Pacific Ocean after U.S. President Donald Trump vowed to destroy the reclusive country.

At 10:15 a.m. ET (1415 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 1.42 points, or 0.01 percent, at 15,453.50, with six of its 10 main groups lower. It closed at its highest level since early June on Thursday.

Bank of Nova Scotia added 0.5 percent to C$79.30 while finance company ECN Capital Corp jumped 4.5 percent to C$3.94 after closing a deal to acquire Service Finance Holdings and as Credit Suisse raised its view on the stock to “outperform” from “neutral”.

Air Canada pushed 2.5 percent higher to C$27.06 as investors bought into its plan to expand routes and cut some prices to compete against low-cost new entrants. (Reporting by Alastair Sharp; Editing by Nick Zieminski)

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