February 18, 2016 / 3:42 PM / a year ago

CANADA STOCKS-TSX edges higher, sustains six-week high

2 Min Read

(updates prices)

* TSX rises 11.19 points, or 0.09 percent, to 12,878.35

* Half of the TSX's 10 main groups gain

TORONTO, Feb 18 (Reuters) - Canada's main stock index edged higher on Thursday, sustaining a six-week high, as consumer and telecom stocks made modest gains, while shares in energy companies pulled back despite a further rise in crude oil prices.

The most influential movers on the index included Canadian Tire Corp, which advanced 6.4 percent to C$123.97 after its earnings beat expectations despite a slip in revenue. .

The consumer groups were higher, with staples up 0.9 percent and discretionary gaining 0.4 percent, while telecom stocks added 0.8 percent.

The country's largest wireless provider, Rogers Communications Inc, rose 1.1 percent to C$49.25.

The energy group retreated 0.7 percent, even as oil rose above $35 a barrel after Iran welcomed plans by Russia and Saudi Arabia to freeze output and an industry report showed a surprise drop in U.S. inventories.

Canadian Natural Resources declined 2.6 percent to C$29.02 and Enbridge Inc fell 1.4 percent to C$44.86.

At 10:26 a.m. EST (1526 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 11.19 points, or 0.09 percent, to 12,878.35. It see-sawed on either side of flat in morning trade, barely extending Wednesday's push to its highest level since Jan. 5.

Half of the index's 10 main groups were in negative territory, although advancers outnumbered decliners by a 3-to-2 ratio.

First Quantum Minerals Ltd slumped 14.9 percent to C$4.18 after providing 2016-2018 guidance on Wednesday.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.3 percent, while industrials fell 0.6 percent and the heavyweight financial sector was barely lower. (Reporting by Alastair Sharp Editing by W Simon)

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