CANADA STOCKS-TSX flat as energy, earnings offset weak bank shares

Reuters  | Feb 08, 2018 10:20

CANADA STOCKS-TSX flat as energy, earnings offset weak bank shares

Feb 8 (Reuters) - Canada's main stock index was little changed on Thursday as a decline in financials was offset by a firmer energy sector and gains in shares of BCE Inc BCE.TO after it reported quarterly results.

* At 10:03 a.m. ET (15:03 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE edged up just 1.11 points, or 0.01 percent, at 15,331.69.

* Investors were assessing a number of earnings reports, while global markets remained cautious following Monday's slide. MKTS/GLOB

* BCE Inc BCE.TO was among the biggest lifts on the index, up 1.9 percent at C$57.77 after the telecom company's quarterly profit narrowly beat analysts' estimates. Shares of Suncor Energy SU.TO supported the energy sector, gaining 1.9 percent to C$43.25 after it reported higher fourth-quarter profit on stronger oil prices and lower costs. The energy group .SPTTEN climbed 1.2 percent. Elsewhere in the sector, MEG Energy MEG.TO jumped 23.1 percent to C$6.18 after it said it had agreed to sell some pipeline and storage assets in Alberta. On the downside, banks .SPTTFS slipped 0.2 percent, with Royal Bank of Canada RY.TO off 0.5 percent to C$100.57 and Toronto Dominion Bank TD.TO down 0.6 percent at C$71.3.

* Canada Goose Holdings GOOS.TO slumped 15.4 percent to C$40.47 after releasing its quarterly results. Thomson Reuters TRI.TO declined 1.6 percent to C$50.26 after the company beat Wall Street profit expectations in the fourth quarter but missed on revenue. The TSX posted 1 new 52-week highs and 5 new lows.

* Aurora Cannabis ACB.TO was among the most actively traded stocks up 0.5 percent at $11.20 after the cannabis company reported results. Volume on the TSX index was 32.27 million shares.

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