CANADA STOCKS-TSX slightly higher with gold miners

Fri Dec 2, 2016 5:03pm EST
 
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(Adds fund manager comment, updates prices to close)

* TSX ends up 24.99 points, or 0.17 percent, at 15,052.52

* Index down 0.15 pct on week after hitting near 18-month high

By Alastair Sharp

TORONTO, Dec 2 (Reuters) - Canada's main stock index eked out a small gain on Friday as miners rose as the price of gold climbed while energy stocks slipped after an OPEC deal earlier in the week propelled oil to its biggest weekly gain in years.

The Toronto Stock Exchange's S&P/TSX composite index settled up 24.99 points, or 0.17 percent, at 15,052.52. For the week, it slipped 0.15 percent, after hitting a near 18-month high on Thursday.

The financials group was flat, torn between gains for banks at the end of a busy week of earnings and a pullback in insurers, which have jumped sharply since early November on rising bond yields.

National Bank of Canada added 1.4 percent to C$51.52 after the country's sixth biggest lender posted better-than-expected profit and said it planned to strengthen its capital position next year.

"The trend is very positive for banks in general because we've got higher rates and the stability in the residential mortgage book is still pretty much there," said John Stephenson, president of Stephenson & Company Capital Management.   Continued...