TSX ends flat after hitting 10-day high

Thu May 12, 2016 5:16pm EDT
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By Alastair Sharp

TORONTO (Reuters) - Canada's main stock index ended flat on Thursday, with lower commodity prices weighing on miners, offsetting gains for most major banks and some energy companies trying to restart production after a raging wildfire.

Enbridge Inc (ENB.TO: Quote) added 1.9 percent to C$51.69 as it said it was steadily resuming service on its pipeline network through Canada's energy heartland about a week after the fire shut down operations in the Fort McMurray, Alberta area.

It also reported a higher-than-expected quarterly profit.

CNOOC Ltd's Nexen (0883.HK: Quote) (CEO.N: Quote) told customers it may not be able to fulfill its supply contracts.

The overall energy sector rose 0.3 percent.

Crescent Point Energy Corp (CPG.TO: Quote) rose 4.9 percent to C$21.36 despite reporting a bigger quarterly loss. The company, whose shares have lost a third of their value in the last 12 months, said it would have C$300 million of excess free cash flow for 2016 if oil prices average $45 a barrel.

Gold miners were among the heaviest weights on the index, as a stronger U.S. dollar pressured bullion prices. [GOL/]

Goldcorp Inc (G.TO: Quote) fell 3.9 percent to C$23.15 and Barrick Gold Corp (ABX.TO: Quote) lost 1.9 percent to C$23.27.   Continued...

A man walks past an old Toronto Stock Exchange (TSX) sign in Toronto, June 23, 2014.   REUTERS/Mark Blinch