March 20, 2017 / 2:40 PM / in 8 months

CANADA STOCKS-TSX edges higher as gold miners, Dominion Diamond gain

(Adds details on specific stocks, updates prices)

* TSX up 4.6 points, or 0.03 percent, to 15,495.09

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

TORONTO, March 20 (Reuters) - Canada’s benchmark stock index edged higher on Monday, helped by gold miners as bullion rose and a surge in acquisition target Dominion Diamond Corp , with gains muted by financial stock declines and energy companies weighed by lower oil prices.

Dominion shares jumped 22.6 percent to C$16.19 after Washington Companies said on Sunday it had previously made a proposal to acquire the mining company for $13.50 (C$18.03) a share.

Barrick Gold, the world’s largest gold producer, rose 0.8 percent to C$25.34 as gold prices scaled a two-week peak. Smaller miner Agnico Eagle Mines Ltd added 1.5 percent to C$57.36.

Gold rose and the U.S. dollar and bond yields fell after a G20 weekend summit that was dominated by the U.S. administration’s protectionist stance on global trade.

Lower bond yields helped dividend-paying telecom stocks notch strong gains for a second straight session, while financial stocks that benefit from a rising interest rate environment pulled back.

At 10:17 a.m. ET (1417 GMT), the Toronto Stock Exchange’s S&P/TSX composite index rose 4.6 points, or 0.03 percent, to 15,495.09. Six of the index’s 10 main groups were in positive territory.

Manulife Financial Corp fell 0.8 percent to C$23.95 and Bank of Montreal declined 0.5 percent to C$100.45.

The index’s heavyweight energy group retreated 0.4 percent, with oil prices falling as investors unwound bets on higher prices because of concerns that higher U.S. crude output could hamper an OPEC-led production cut deal.

Canadian Natural Resources slipped 0.4 percent to C$43.49 and Crescent Point Energy Corp declined 1 percent to C$14.17.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.8 percent.

Canada’s finance minister will give an update on the deficit when he presents the federal budget on Wednesday, hoping to flesh out plans to spend the way to growth without drawing the wrath of debt rating agencies and businesses struggling to compete.

Canadian wholesale trade in January unexpectedly soared by 3.3 percent, its biggest monthly advance in more than seven years, on stronger sales of motor vehicles and parts, Statistics Canada data indicated on Monday. (1 Canadian dollar = $0.7487) (Reporting by Alastair Sharp; Editing by Meredith Mazzilli)

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