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CANADA STOCKS-TSX rises with banks, miners; energy stocks weigh
October 2, 2017 / 2:30 PM / in 17 days

CANADA STOCKS-TSX rises with banks, miners; energy stocks weigh

* TSX up 39.63 points, or 0.25 percent, at 15,674.57

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

* Energy sector off 1.1 pct as crude prices fall

TORONTO, Oct 2 (Reuters) - Canada’s main stock index rose on Monday as broad gains led by its heavyweight financial components offset the weight of energy stocks’ retreat with lower oil prices.

Jean Coutu Group gained 1.8 percent to C$24.74 after grocery company Metro Inc said it would buy the pharmacy chain for C$24.50 a share. Metro’s stock edged down to C$42.73.

The financials group, which accounts for more than a third of the index’s weight, added 0.3 percent overall, with Toronto-Dominion Bank up 0.5 percent to C$70.60 and Bank of Nova Scotia also adding 0.5 percent, to C$79.77.

At 10:07 a.m. ET (1407 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 39.63 points, or 0.25 percent, at 15,674.57.

Of the index’s 10 main groups, only the energy group was in negative territory, down 1.1 percent as crude oil prices were pressured by signs of higher output.

The most influential weights included Suncor Energy Inc , which fell 1.1 percent to C$43.27.

Smaller producers took larger hits, with MEG Energy Corp declining 4.7 percent to C$5.23 and Crew Energy Inc off 4.5 percent at C$4.24. Cenovus Energy lost 1.6 percent to C$12.32.

Diversified miner Teck Resources Ltd rose 1.8 percent to C$26.75 as copper held steady and lead and zinc prices jumped.

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

Industrials rose 0.2 percent. The pace of growth in the Canadian manufacturing sector edged up in September on increased demand, while a rise in prices suggested companies faced inflationary pressures, data showed.

U.S. crude prices were down 2.7 percent at $50.29 a barrel, while Brent crude lost 2.1 percent to $55.61.

$1 = 1.2497 Canadian dollars Reporting by Alastair Sharp; Editing by Lisa Von Ahn

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