November 10, 2016 / 4:05 PM / 10 months ago

CANADA STOCKS-TSX barely higher, insurers bounce on earnings

(Adds details on specific stocks, updates prices)

* TSX up 14.68 points, or 0.1 percent, at 14,774.59

* Seven of the TSX’s 10 main groups move lower

TORONTO, Nov 10 (Reuters) - Canada’s main stock index made small gains on Thursday as two major insurers jumped on strong earnings and industrial stocks also rose, while gold miners and energy stocks fell with lower commodity prices.

The country’s biggest life insurer, Manulife Financial Corp , jumped 7.1 percent to C$21.51 after beating profit expectations driven in part by growth in its Asian business.

Its rival, Sun Life Financial, gained 5.5 percent to C$48.92 as it also beat expectations.

The financials group gained 1.2 percent.

Industrials rose 1.3 percent, with Canadian National Railway Co up 1.4 percent at C$85.95.

Bombardier Inc advanced 5 percent to C$1.88 after the plane and train maker reported a lower-than-expected adjusted net loss in the third quarter and said it expected to finish the year with improved operating margins in all of its businesses.

First Quantum Minerals Ltd jumped 8.3 percent to C$15.56 as copper prices surged to a 16-month high as investors bet on a jump in U.S. infrastructure spending under a Republican administration.

But miners of gold fell further after surging in the immediate aftermath of Donald Trump’s shock victory in the U.S. presidential election, with Barrick Gold Corp down 6.4 percent at C$21.58.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.6 percent.

At 10:20 a.m. EDT (1520 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 14.68 points, or 0.1 percent, at 14,774.59.

Seven of the index’s 10 main groups were in negative territory, although advancers slightly outnumbered decliners overall.

U.S. crude prices were down 0.6 percent to $44.99 a barrel, while Brent lost 0.3 percent to $46.22.

Gold futures fell 0.6 percent to $1,264.6 an ounce and copper prices advanced 4.1 percent to $5,634 a tonne.

Retailer Canadian Tire Corp Ltd rose 2.7 percent to C$135.59 after reporting better-than-expected quarterly profit and increasing its quarterly dividend. (Reporting by Alastair Sharp; Editing by Jonathan Oatis)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below