CANADA STOCKS-TSX notches small gain as materials stocks rise

Fri Dec 23, 2016 10:43am EST
 
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(Adds details on specific stocks, updates prices)

* TSX up 23.84 points, or 0.16 percent, at 15,359.07

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

TORONTO, Dec 23 (Reuters) - Canada's main stock index edged higher in morning trade on Friday as materials stocks led a broad but shallow rally and some heavyweight financial shares slipped.

At 10:07 a.m. ET (1507 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 23.84 points, or 0.16 percent, at 15,359.07. It is on track for a seventh straight rising session and a 0.7 percent gain on the week.

One of the most influential gainers on the index was Barrick Gold Corp, which advanced 1.9 percent to C$19.40. Smaller miner Iamgold Corp rose 2.1 percent to C$4.48.

Bullion prices edged higher, but are down more than $200 an ounce since the U.S. presidential election victory of Donald Trump set off a U.S. dollar rally.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.5 percent.

The Canadian economy retreated in October due to widespread weakness in the manufacturing sector and a decline in oil and gas extraction, reinforcing expectations that growth slowed in the final quarter of the year.   Continued...