CANADA STOCKS-TSX dips for fifth straight session, energy stocks resilient

Tue Jan 5, 2016 4:48pm EST
 
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(Adds analyst quotes, adds details, updates prices)

* TSX ends down 7.01 points, or 0.05 percent, at 12,920.14

* Six of the TSX's 10 main groups fall

By Fergal Smith

TORONTO, Jan 5 (Reuters) - Canada's main stock index edged lower on Tuesday as consumer, industrial and materials stocks weakened, while energy stocks rose despite weaker crude oil prices.

The index fell for a fifth straight session, but after paring the worst of losses. It follows an 11 percent loss in 2015, its worst year since the global financial crisis of 2008.

"It's a cautious start to the year," said Brian Pow, vice president, research at Acumen Capital Partners in Calgary, adding "the volumes in certain stocks are still pretty light"

Magna International Inc declined 2.4 percent to C$54.35, while the overall consumer discretionary sector fell 1.2 percent.

Canadian National Railway Co fell 1.3 percent to C$75.47, while Potash Corporation of Saskatchewan Inc was down 2.4 percent at C$23.63.   Continued...