November 6, 2015 / 4:33 PM / in 2 years

CANADA STOCKS-TSX dips on oil and mining stocks; financials rise

(Updates prices)

* TSX down 39.63 points, or 0.29 percent, to 13,519.38

* Seven of the TSX's 10 main groups fall

TORONTO, Nov 6 (Reuters) - Canada's main stock index retreated on Friday, as oil and mining company stocks dragged, offsetting solid gains for financials.

Global oil prices slid, dragging the influential energy sector lower, and gold miners were hit by a fall in the price of bullion to a three-month low after the spike in U.S. employment made it more likely the U.S. Federal Reserve will hike interest rates in December.

Goldcorp Inc fell 4.1 percent to C$15.34, while Barrick Gold Corp lost 4.6 percent to C$9.25.

The prospect of higher U.S. interest rates bolstered the dollar, making commodities denominated in the greenback less affordable to holders of other currencies.

At 11:19 a.m. ET (1619 GMT), the Toronto Stock Exchange's S&P/TSX composite index fell 39.63 points, or 0.29 percent, to 13,519.15.

Seven of the TSX's 10 main groups fell, with losses among energy and mining stocks weighing most heavily on the index. The overall energy group retreated 1.6 percent while the materials group retreated 2.3 percent.

Pipeline company Enbridge Inc fell 2.3 percent to C$51.69 while rival TransCanada Corp lost 2.5 percent to C$44.13.

Enbridge said on Thursday that a delay in starting up a pipeline to transport crude from Ontario to Quebec will hurt its adjusted earnings for the year.

Crude oil prices were down 2.0 percent to $44.30 a barrel, while Brent crude lost 1.3 percent to $47.37.

Gold futures fell 1.4 percent to $1,089.5 an ounce, while copper prices declined 0.4 percent to $4,993.5 a tonne.

Financials rose 0.8 percent, after the firm U.S. and Canadian jobs data pointed to stronger growth, but also higher interest rates, with the Canadian jobs gain suggesting that the Bank of Canada can refrain from further easing.

Sierra Wireless Inc slumped 23.1 percent to C$25.37 after its earnings missed analyst expectations.

Valeant Pharmaceuticals International Inc rallied 3.6 percent to C$107.11 after plunging as much as 20 percent during Thursday's session. The company said on Friday that Goldman Sachs sold 1.3 million shares of Valeant on Nov. 5 that were securing loans made to its CEO Michael Pearson. (Reporting by Fergal Smith Editing by W Simon)

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