December 23, 2016 / 3:44 PM / 10 months ago

CANADA STOCKS-TSX notches small gain as materials stocks rise

(Adds details on specific stocks, updates prices)

* TSX up 23.84 points, or 0.16 percent, at 15,359.07

* Eight of the TSX’s 10 main groups move higher

TORONTO, Dec 23 (Reuters) - Canada’s main stock index edged higher in morning trade on Friday as materials stocks led a broad but shallow rally and some heavyweight financial shares slipped.

At 10:07 a.m. ET (1507 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 23.84 points, or 0.16 percent, at 15,359.07. It is on track for a seventh straight rising session and a 0.7 percent gain on the week.

One of the most influential gainers on the index was Barrick Gold Corp, which advanced 1.9 percent to C$19.40. Smaller miner Iamgold Corp rose 2.1 percent to C$4.48.

Bullion prices edged higher, but are down more than $200 an ounce since the U.S. presidential election victory of Donald Trump set off a U.S. dollar rally.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.5 percent.

The Canadian economy retreated in October due to widespread weakness in the manufacturing sector and a decline in oil and gas extraction, reinforcing expectations that growth slowed in the final quarter of the year.

Shares of uranium producer Cameco Corp advanced 1.1 percent to C$14.45 after U.S. President-elect Donald Trump called for expanded U.S. nuclear weapon capability.

CGI Group Inc added 1 percent to C$63.74. The IT company said on Thursday it had signed a 10-year, $150 million deal to renew and expand its partnership with iA Financial Group.

Logistics software company Descartes Systems Group rose 1.1 percent to C$28.36. It said it has acquired trade data company Datamyne for $52.7 million in cash.

The heavyweight energy and financial groups both slipped 0.1 percent, the only two of 10 main groups trading lower.

Several major banks and insurers weighed on the overall index. Sun Life Financial Inc slipped 0.7 percent to C$51.81 and Fairfax Financial Holdings Ltd lost 0.9 percent to C$662.24. (Reporting by Alastair Sharp; Editing by Chizu Nomiyama)

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