CANADA STOCKS-TSX rises with financials, resource stocks weigh

(Adds details on specific stocks, updates prices)

* TSX up 19.73 points, or 0.13 percent, to 15,300.95

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

TORONTO, June 28 (Reuters) – Canada’s main stock index rose
slightly on Wednesday as gains for financial stocks and grocery
operator Empire Co Ltd were offset by slips among gold
miners and other resource stocks.

The most influential movers on the index were the big
financial stocks, which rose as investors increased their bets
that the country’s central bank may hike interest rates as soon
as next month.

Royal Bank of Canada was up 0.5 percent at C$94.54
and Bank of Montreal gained 0.8 percent to C$94.95,
while the financials group gained 0.4 percent overall.

Interest rate cuts in 2015 have done their job and the Bank
of Canada needs to consider its options as excess capacity is
used up, Bank of Canada Governor Stephen Poloz said in a CNBC
interview in Europe.

Food retailer Empire advanced 8.9 percent to C$20.79. The
parent of the Sobeys grocery chain, which is in the midst of a
turnaround effort, posted adjusted earnings that beat
expectations and increased its dividend payout.

On the other side of the ledger, Gildan Activewear
shares fell 2.8 percent to C$40.24 after one of its directors
resigned to take up the chief operating officer role at Under
Armour, and as CIBC downgraded the stock to ‘neutral’ from
‘outperform’.

Eldorado Gold Corp lost 4.9 percent to C$3.53 after
reducing its 2017 outlook for production from its Kisladag
operations in Turkey, while larger gold miners also fell.

At 10:35 a.m. ET (1435 GMT), the Toronto Stock Exchange’s
S&P/TSX composite index was up 19.73 points, or 0.13
percent, to 15,300.95.

The energy group retreated 0.2 percent, with Suncor Energy
declining 0.6 percent to C$38.27 and pipeline operator Enbridge
Inc largely unchanged at C$52.77.

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

Six of the index’s 10 main groups were in positive
territory, with advancers outnumbering decliners by a 1.7-to-1
ratio overall.

Brookfield Renewable Partners L.P fell 4.6
percent to C$41.47 after announcing a C$550 million equity
offering.
(Reporting by Alastair Sharp; Editing by Paul Simao)

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