CANADA STOCKS-TSX falls as U.S. rate hike fears hit gold shares

Fri Feb 6, 2015 4:40pm EST
 
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* TSX down 41 points, or 0.27 percent, at 15,083.92

* Six of the 10 main index sectors advance

* Suncor, Penn West lifted by higher oil prices

By John Tilak

TORONTO, Feb 6 (Reuters) - Canada's main stock index fell on Friday as strong U.S. jobs data increased investor worries that the U.S. Federal Reserve will raise interest rates, sending the bullion price and shares of gold miners sharply lower.

Data showed U.S. job growth climbed in January and wages rebounded strongly, raising expectations the Fed will increase interest rates sooner than later.

The benchmark Canadian index recorded a weekly gain of 2.8 percent. It is up 3.1 percent so far this year.

"The expectation is that the Fed will hike interest rates in the next few months but future moves may not be that aggressive," said Elvis Picardo, strategist and vice president of research at Global Securities in Vancouver.

The Toronto Stock Exchange's S&P/TSX composite index closed down 41 points, or 0.27 percent, at 15,083.92. Six of the 10 main sectors on the index were higher.   Continued...