TORONTO: Canada's main stock index eked out a small gain in morning trade on Thursday, boosted by a bump in shares of Rogers Communications Inc after strength in its wireless business help it beat earnings expectations.
That move was offset by a fall in shares of Hydro One Ltd , down 3.6 percent to C$21.72 after the electric utility said it would buy rival Avista Corp for about C$6.7 billion ($5.32 billion) to expand into the US Northwest.
At 10:25 a.m. ET (1425 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 1.01 points, or 0.01 percent, to 15,245.72.
Six of its 10 main groups were lower, with decliners outnumbered advancers by a 1.2-to-1 ratio.
The index's biggest sectors were little changed, with the energy group up 0.1 percent and financials adding 0.2 percent. The materials group, which includes precious and base metals miners and fertilizer companies, was flat.
Telecom and cable company Rogers rose 1.3 percent to C$64.81 after reporting better-than-expected quarterly profit on the back of strong growth in its wireless business that offset declines in cable.
Canadian Pacific Railway Ltd jumped at the open before turning lower, and its shares were last down 0.2 percent at C$203.19. The rail company reported better-than-expected quarterly profit late on Wednesday but executives expressed concern about grain shipments for the second half of the year.
BlackBerry Ltd rose 0.9 percent to C$12.90. The company said it had won the right to sell tools for encrypting phone calls and text messages to the US government.
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