CANADA STOCKS-TSX steady as commodities weigh on resources, offsetting gains

Thu Jun 11, 2015 10:55am EDT
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(Updates market moves, adds details, analyst comment)

By Solarina Ho

TORONTO, June 11 (Reuters) - Canada's main stock index was little changed in choppy trading on Thursday as energy and mining stocks fell along with softer commodity prices, offsetting gains from other sectors including industrials and healthcare.

Oil, which is priced in U.S. dollars, fell on the stronger greenback and after a World Bank report forecast the global economy would expand below its 3 percent forecast in January.

Suncor Energy was the biggest drag, down 1.1 percent at 35.85 percent. Inter Pipeline Ltd stumbled 2.4 percent to C$29.31. The overall energy group was down 0.5 percent.

Gold prices, which were under pressure over the longer term from an expected Federal Reserve interest rate hike, halted a three-day rally, also hurt by the firmer U.S. dollar.

Barrick Gold Corp gave back 1.3 percent to C$14.07, while Goldcorp Inc lost 1.1 percent to trade at C$20.98.

The Toronto Stock Exchange's S&P/TSX composite index was off 6.1 points, at 14,882.94. Half of the index's 10 main groups were in negative territory.

"Everything is a pretty mixed bag ... but when you look at it, drillers, oil and gas, mining, the materials are down," said John Ing, president of Maison Placements Canada, adding that markets were still keeping a wary eye on the Greek debt crisis.   Continued...