CANADA STOCKS-TSX inches up as gold miners gain; BCE, Cameco weigh

Thu Feb 2, 2017 11:04am EST
 
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(Adds details on specific stocks, updates prices)

* TSX up 10.17 points, or 0.07 percent, at 15,412.56

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

TORONTO, Feb 2 (Reuters) - Canada's main stock index inched higher on Thursday as gold miners gained and insurers slipped with uncertainty around when the U.S. Federal Reserve might next raise interest rates.

The most influential movers on the index also included BCE Inc, which fell 1.4 percent to C$57.59 as the telecom company paid heavily to win wireless customers and forecast 2017 profit below analyst estimates.

At 10:25 a.m. ET (1525 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 10.17 points, or 0.07 percent, at 15,412.56.

Canadian Natural Resources Ltd advanced 2 percent to C$40.09, with oil prices holding near the top end of recent ranges as evidence OPEC and other big exporters were cutting production outweighed a sharp rise in U.S. crude and gasoline stockpiles.

But the energy group was flat overall, with Cameco Corp falling sharply for a second day, down 5.9 percent to C$13.83, as the uranium producer said it would take legal action against Tokyo Electric Power Company for attempting to terminate a supply contract and RBC Capital cut its view on the stock to "sector perform" from "outperform".

Manulife Financial Corp slipped 0.4 percent to C$24.89 and Sun Life Financial Inc fell 0.5 percent to C$50.82 after the U.S. Federal Reserve gave little insight into whether it would raise interest rates at its next meeting.   Continued...