CANADA STOCKS-TSX barely higher at 13-month high, gold miners lead

Wed Aug 10, 2016 10:49am EDT
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* TSX up 13.45 points, or 0.09 percent, to 14,814.68

* Half of the TSX's 10 main groups rise; materials up 1.2 pct

TORONTO Aug 10 (Reuters) - Canada's main stock index made small gains in morning trade on Wednesday, adding to its strongest level since June last year, as gold miners rose while Valeant Pharmaceutical International Inc slipped back after a surge.

The materials group, which includes precious and base metals miners and fertilizer companies, added 1.2 percent, as prices for a string of metals rose as a weaker U.S. dollar supported.

The most influential movers on the Canadian index included two of the world's biggest gold miners, with Goldcorp Inc up 3.2 percent to C$24.51 and Barrick Gold Corp adding 1 percent to C$28.48.

Tahoe Resources Inc advanced 7.2 percent to C$21.94 after its adjusted earnings beat expectations and it said it expects to hit the top end of its silver production target.

At 10:21 a.m. EDT (1421 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 13.45 points, or 0.09 percent, to 14,814.68.

The index is in its sixth straight rising session and at its highest point since June 26, 2015.

Half of its 10 main groups were in negative territory, mostly notching small slips, with advancers slightly outnumbering decliners overall.

Valeant stock slipped back 4.8 percent to C$35.12. It had surged 25 percent on Tuesday after the drug maker unveiled a plan to sell assets to pay down debt.

Six weeks earlier, top Valeant investor and board member William Ackman attended a private shareholder dinner where similar plans were discussed, a source who participated said. (Reporting by Alastair Sharp; Editing by Phil Berlowitz)