TSX Flat As Trump Approves Keystone -- Canadian Commentary

(RTTNews) - Canadian stocks were flat Friday as focus shifted to the U.S., where President Donald Trump faced a legislative defeat over health care reforms.

Trump was rebuffed in his efforts to replace ObamaCare will a plan more to his liking. Religious conservatives in his own party wanted more concessions.

The news overshadowed big developments in the energy sector. TransCanada Corp. (TRP.TO) announced that the U.S. Department of State has signed and issued a Presidential Permit to construct the Keystone XL Pipeline.

The S&P/TSX Composite Index was up 9 points to 15,442.67. Energy stocks were flat amid a flurry of news from the oil patch.

Oil firm Enbridge Inc. (ENB.TO) is cutting another 1,000 jobs after its takeover of Spectra Energy Corp. Shares were up fractionally.

Husky Energy (HSE.TO) has admitted that about 25,000 litres of crude oil leaked from one of its pipelines in southwestern Alberta last week, according to the Canadian Press. Shares were flat.

Ski-doo sled maker BRP Inc (BRP.TO) reported a better-than-expected quarterly profit on strong demand for its recreational machines. Shares slipped 1.3 percent.

Bombardier's (BBD.B.TO) C Series jet is near approval for London City airport, Reuters reports. Shares were up 0.5 percent.

Power Corporation of Canada (POW.TO) said quarterly profits jumped 27%. Shares slipped 2.8 percent. Kraft Heinz is laying off 200 workers in Canada and the US.