CANADA STOCKS-TSX makes small gains; nears 1.5 pct advance on week

Fri Nov 25, 2016 10:46am EST
 
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(Adds details on specific stocks, updates prices)

* TSX up 12.7 points, or 0.08 percent, at 15,087.90

* Eight of TSX's 10 main groups move higher; energy off 1.1 pct

TORONTO, Nov 25 (Reuters) - Canada's main stock index inched higher in morning trade on Friday as energy stocks weighed, with a pullback in crude oil prices, but several utilities jumped after Alberta agreed to pay them compensation.

The most influential weights included Canadian Natural Resources Ltd, which fell 1.4 percent to C$43.39, and Encana Corp, which lost 1.1 percent to C$16.45. The heavyweight energy group retreated 1.1 percent overall.

Oil prices slid, dragged down by a strong U.S. dollar and uncertainty over whether OPEC will agree to cut production at the group's meeting next week. But benchmark contracts were on track to close the week with gains close to 4 percent.

The Toronto Stock Exchange's S&P/TSX composite index was on track for a 1.5 percent weekly gain, largely thanks to an oil-related surge to a 17-month high on Monday.

At 10:14 a.m. EDT (1514 GMT), it was up 12.7 points, or 0.08 percent, at 15,087.90. Eight of its 10 main groups were higher.

Utility companies TransAlta Corp and Capital Power Corp surged after Alberta agreed to pay them compensation for the capital they had invested in coal power plants that the province is phasing out.   Continued...