August 7, 2015 / 2:58 PM / in 2 years

CANADA STOCKS-TSX lower as energy stocks slip, miners rise

* TSX down 38.75 points, or 0.27 percent, at 14,367.16

* Six of 10 main groups lower; tracking for 0.7 percent weekly fall

By Alastair Sharp

TORONTO, Aug 7 (Reuters) - Canada’s main stock index slipped on Friday, with shares in gold miners among the leading lights and energy companies weighing heavily amid weakness in the underlying commodities.

Miners helped limit the damage, with Barrick Gold Corp jumping 6 percent to C$9.53, and Goldcorp Inc advancing 2.3 percent to C$18.08. The materials group climbed 1.4 percent as the price of gold steadied.

The most influential weights included First Quantum Minerals Ltd, which fell 3.7 percent to C$9.90, and Encana Corp , which declined 3.3 percent to C$9.09.

The overall energy group retreated 0.2 percent, with losses offset by a move higher by Canadian Natural Resources, up 0.8 percent to C$33.05.

U.S. crude prices were down 0.9 percent to $44.27 a barrel, while Brent crude lost 1.2 percent to $48.95.

“In terms of the divergence between commodity prices and the performance of the energy stocks, it’s a reflection of some rotation that we’re seeing in the market,” said Craig Fehr, Canadian market strategist at Edward Jones in St. Louis, Missouri.

“When you consider the declines we’ve seen in the energy space, there is some value there.”

At 10:40 a.m. (1440 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 38.75 points, or 0.27 percent, at 14,367.16.

At the level, the index is on track to notch a 0.7 percent fall in the holiday-shortened week.

Of the index’s 10 main groups, six were in negative territory.

Fehr said dual job reports from Canada and the United States reflected the general trajectory of the economy in both countries, with modest improvements for Canada and signs of a more robust U.S. recovery.

“I do think equities can move higher, it’s just going to be a more volatile ride and certainly the gains are going to be lower than we’ve seen in past years,” he said. (Reporting by Alastair Sharp; Editing by James Dalgleish)

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