February 10, 2015 / 3:43 PM / 3 years ago

CANADA STOCKS-TSX weakens as resource shares stumble

* TSX down 68.21 points, or 0.45 percent, at 15,032.49

* Eight of 10 main index sectors advance

* Gold-mining shares slip with bullion price

By John Tilak

TORONTO, Feb 10 (Reuters) - Canada’s main stock index declined on Tuesday as shares of energy and mining companies slipped with commodity prices, pausing after a recent rally.

U.S. crude prices dropped nearly 3 percent, easing after a near-10 percent gain in the previous three sessions. Shares of energy producers shed 3.2 percent.

The International Energy Agency predicted more pressure on oil prices, saying that supplies remained elevated and inventories could approach record highs.

The weakness offset hopes that Greek debt negotiations might result in a deal as Greece’s finance minister, Yanis Varoufakis, headed to a Eurogroup finance ministers meeting.

Despite Tuesday’s decline, the benchmark TSX is up 2.5 percent so far this month.

“We’ve had a good little run. So we’ve got to do a little backing and filling here,” said David Cockfield, managing director and portfolio manager at Northland Wealth Management.

“The big swing element is the oil sector. It’s quite unpredictable,” he added. “People are just not sure what to do with their energy investments.”

The Toronto Stock Exchange’s S&P/TSX composite index was down 68.21 points, or 0.45 percent, at 15,032.49, though eight of the 10 main sectors on the index were trading higher.

The gold-mining sector fell 2.1 percent, reflecting a weaker bullion price. Barrick Gold Corp was down 3.4 percent at C$15.03, and Goldcorp Inc slipped 2.5 percent to C$28.44.

Among shares of energy producers, Canadian Natural Resources Ltd lost 4.1 percent to C$37.84 and Suncor Energy Inc gave back 3.7 percent to C$37.86. (Editing by Jonathan Oatis)

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