CANADA STOCKS-TSX steadies at 16-month peak, miners down

Thu Oct 20, 2016 11:01am EDT
 
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(Updates prices)

* TSX down 7.16 points, or 0.05 percent, to 14,833.33

* Six of the TSX's 10 main groups move higher

TORONTO, Oct 20 (Reuters) - Canada's main stock index steadied on Thursday after hitting a near 16-month high the previous day as gains in financial stocks helped offset mining stocks weighed by a pullback in gold prices.

Most of the index's 10 main sectors were little changed, with the small healthcare group notching the largest gain at 0.7 percent as Valeant Pharmaceuticals International Inc advanced 1.1 percent to C$29.28.

At 10:27 a.m. EDT (1427 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 7.16 points, or 0.05 percent, to 14,833.33.

The financials and industrials groups each gained 0.2 percent. The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.2 percent.

Bank of Montreal rose 0.4 percent to C$85.61, and National Bank of Canada gained 0.5 percent to C$46.50.

Barrick Gold Corp fell 2.3 percent to C$22.17, as gold prices turned lower after three days of gains.   Continued...