(Adds analyst quotes, details on Brookfield Asset Management
and Canadian National Railway, updates prices)
* TSX ends up 0.24 points, or 0 percent, at 15,075.44
* Index advances 1.4 percent for the week
* Eight of TSX's 10 main groups end higher; energy off 1.7
By Fergal Smith
TORONTO, Nov 25 Canada's main stock index ended
nearly unchanged on Friday as several utilities jumped after
Alberta agreed to pay them compensation and financial and
railroad stocks climbed, while energy names fell as oil prices
It was the second straight day of lower than usual trading
volumes as U.S. markets closed early after the Thanksgiving
holiday on Thursday.
"The TSX is holding up really well" considering the pullback
in oil prices, said Colin Cieszynski, senior market analyst at
CMC Markets Canada.
U.S. crude oil futures settled $1.90 lower at $46.06,
pressured by uncertainty over whether the Organization of the
Petroleum Exporting Countries will reach an output deal after
Saudi Arabia said it will not attend talks on Monday with
non-OPEC producers to discuss supply cuts.
The energy sector fell 1.7 percent, with Suncor Energy Inc
down 1.3 percent at C$41.96.
Still, the Toronto Stock Exchange's S&P/TSX composite index
closed up 0.24 points, or 0 percent, at 15,075.44.
For the week, the index advanced 1.4 percent, extending its
rally since the U.S. election.
"What concerns me there is that we have markets that are
really overbought," said Cieszynski.
A potential recount of election results in some U.S.
battleground states could provide the "trigger for a
correction," he added.
Eight of the index's 10 main groups ended higher.
Financials and industrials gained ground, with Brookfield
Asset Management Inc gaining 1.3 percent to C$45.57
and Canadian National Railway Co climbing 1.2 percent
Utility companies TransAlta Corp and Capital Power
Corp surged after Alberta agreed to pay them
compensation for the capital they had invested in coal power
plants that the province is phasing out.
TransAlta jumped 17.1 percent to C$7.33 and Capital Power
gained 9.6 percent to C$23.44.
Shares in Amaya Inc advanced nearly 7 percent to
C$20.10 after the online gaming company's former chief executive
disclosed new funding details for his proposed offer to buy it.
Barrick Gold Corp rose nearly 2 percent to C$20.04.
The world's largest gold producer is reviewing the financial
backing behind an approximately $1.3 billion bid for its stake
in Australia's Kalgoorlie mine by Minjar Gold, two sources told
Reuters on Thursday.
Gold prices steadied after falling to 9-1/2 month lows on
Friday, while the materials group, which includes
precious and base metals miners and fertilizer companies, was
(Additional reporting by Alastair Sharp; Editing by Dan Grebler
and Cynthia Osterman)