* TSX up 19.22 points, or 0.12 pct, at 15,864.17
* Six of the TSX's 10 main groups were higher
(Updates to close, adds analyst comment, byline)
By Leah Schnurr
OTTAWA, Feb 16 Canada's main stock index edged
up on Thursday to notch a fresh record high as Barrick Gold Corp
jumped on the company's better-than-expected profits, though a
drop in shares of Sun Life helped keep overall gains in check.
Despite firmer oil prices, the energy sector gave
up earlier gains to decline 0.2 percent as shares of Enbridge
Inc fell 0.9 percent to C$55.43 ahead of the company's
earnings after the bell.
Enbridge also won U.S. antitrust approval for a merger with
Spectra Energy Corp.
Barrick was the biggest lift on the index, jumping
6.1 percent to C$26.81, the day after the miner announced
stronger-than-anticipated profit and a debt reduction plan.
Goldcorp Inc also drove the market higher as lower
costs at its gold mines in the Americas helped its quarterly
profit beat expectations. Its stock was up 5.9 percent at
The surge in the shares of the two companies gave the
materials sector a 0.4 percent lift and sent the gold
subindex up 1.8 percent.
"The earnings I've been seeing for the most part in Canada
and the U.S. have been pretty good," said Barry Schwartz, vice
president and portfolio manager at Baskin Financial Services in
"We're seeing companies very disciplined on their costs and
being cautiously optimistic for 2017."
The Toronto Stock Exchange's S&P/TSX composite index
ended up 19.22 points, or 0.12 percent, at 15,864.17.
Of the index's 10 main groups, six were in positive territory.
With the slight gain, Bay Street recorded a record close,
the fifth session in a row the index has ended at a fresh high.
But a drop in shares of Sun Life Financial Inc
restrained overall market gains after the insurer
reported a drop in quarterly underlying profit. Sun Life was
down 5.1 percent at C$49.94.
Bombardier fell 3.1 percent to C$2.50 after it
posted lower-than-expected revenue on weak demand in its rail
and business aircraft divisions.
Bombardier has struggled in recent years as it brings its
new CSeries jet program to the market. The Canadian government
agreed last week to provide aid to the company.
(Editing by Phil Berlowitz)