CANADA STOCKS-TSX little changed; rising BCE offsets energy drop
* Main index rises 1.71 points, or 0.01 pct to 11,865.21 * BCE biggest positive influence after strong results By Alastair Sharp TORONTO, Aug 8 (Reuters) - Canada's main stock index was little changed on Wednesday after two sessions of strong gains, as a jump in BCE Inc shares on solid earnings and a dividend boost helped offset declining energy companies. Second-quarter profit for BCE, the parent of Bell Canada and the country's largest telecom company, beat expectations as wireless and media arm growth spurred the company to lift its full-year earnings outlook and dividend payout. Its shares gained 3.8 percent to C$44.87, the single biggest positive influence on the index. "There is still a huge demand for yield and Bell will hit that category," said Paul Hand, a managing director at RBC Capital Markets. Research In Motion Ltd also gained, rising 5.1 percent to C$7.69 a day after an analyst suggested the BlackBerry maker could revive talks to license its new operating system to Samsung. The gains helped offset the impact of weak data from major European economies Germany and Britain, which contributed to the commodity price declines that hurt Toronto's resource-heavy index. Among the heaviest weights were Enbridge Inc, down 1.5 percent at C$39.42, Suncor Energy, which dipped 0.7 percent to C$32, and Transcanada Corp, which slipped 0.9 percent to C$45.66. By 10:59 a.m. (1459 GMT) the Toronto Stock Exchange's S&P/TSX composite index was up just 1.71 points, or 0.01 percent, at 11,865.21. On Tuesday it closed at its highest level since July 4. Shares of Silver Wheaton Corp rose 4.7 percent while HudBay Minerals Inc was up 1.8 percent on a deal that will see Silver Wheaton help finance the development of HudBay's Constancia mine in Peru in exchange for the right to purchase precious metal byproducts from the base metal miner.
© Thomson Reuters 2017 All rights reserved.