CANADA STOCKS-TSX slips; banks gain amid broad decline

Fri Jul 15, 2016 5:01pm EDT
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(Adds portfolio manager, updates prices to close)

* TSX ends down 32.10 points, or 0.22 percent, at 14,482.42

* Nine of TSX's 10 main groups fall; financials gain

* Index up 1.6 percent for week

By Alastair Sharp

TORONTO, July 15 (Reuters) - Canada's main stock index slipped on Friday, as a range of miners, energy producers, telecom and consumer stocks weighed, offsetting gains for its heavyweight bank stocks.

The Toronto Stock Exchange's S&P/TSX composite index ended down 32.10 points, or 0.22 percent, at 14,482.42. It gained 1.6 percent over the week, its third straight week of 1-percent-plus gains.

"Right now we're still floundering around, everyone's worried," said Rick Hutcheon, president and chief operating officer at RKH Investments. "But eventually people are going to start saying 'Oh, there is a blue sky, there is a light at the end of the tunnel'".

Among stocks weighing most heavily on the index were First Quantum Minerals Ltd, which fell 6.3 percent to C$10.21, and Detour Gold Corp, down 4.7 percent to C$32.12.   Continued...