December 15, 2017 / 12:48 PM / 6 months ago

TSX ends up, Linamar jumps on acquisition

TORONTO (Reuters) - Canada’s main stock index rose on Friday, helped by a sharp jump in auto parts maker Linamar Corp (LNR.TO) after it announced plans to buy an agricultural equipment maker, while financial stocks and base metal miners also gained.

FILE PHOTO: A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. REUTERS/Mark Blinch/File Photo

* The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE ended up 25.52 points, or 0.16 percent, at 16,041.98. It lost 0.3 percent over the course of the week after hitting an all-time high on Wednesday.

* Seven of the index’s 10 main sectors finished in positive territory, although decliners slightly outnumbered gainers overall.

* Linamar surged 11.5 percent to C$72.50 after saying after the bell on Thursday it had agreed to buy privately held MacDon Group of Cos for C$1.2 billion ($937 million).

* The materials group, which includes precious and base metals miners and fertilizer companies, added 0.6 percent, with First Quantum Minerals Ltd (FM.TO) up 4.6 percent at C$17.12 and Teck Resources Ltd (TECKb.TO) adding 2.7 percent to C$30.67.

* The energy group retreated 1.0 percent, with Encana Corp (ECA.TO) down 3.7 percent at C$14.27 and Cenovus Energy Inc (CVE.TO) off 3.6 percent at C$10.86.

* Industrials rose 0.5 percent while the financials group gained 0.2 percent as insurer Manulife Financial Corp (MFC.TO) rose 1.2 percent to C$26.70 and Royal Bank of Canada (RY.TO) added 0.5 percent to C$101.92.

($1 = 1.2809 Canadian dollars)

Reporting by Alastair Sharp; Editing by Susan Thomas and James Dalgleish

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