CANADA STOCKS-TSX barely higher; lower metals prices weigh on miners

Fri Aug 19, 2016 11:23am EDT
 
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(Updates prices)

* TSX up 2.72 points, or 0.02 percent, to 14,698.40

* Half of the TSX's 10 main groups fall

* Index heads for 0.3 pct loss over week

TORONTO, Aug 19 (Reuters) - Canada's main stock index was barely higher on Friday, as gains for bank, consumer and railway stocks offset declines for miners which fell on weaker metals prices.

Gold lost ground, snapping a week-long advance after a top Federal Reserve official joined other policymakers signaling support for a U.S. interest rate hike in coming months.

Bullion is sensitive to higher interest rates which lift the opportunity cost of holding non-yielding assets such as precious metals, while boosting the dollar in which it is priced.

The most influential weights on the stock index included Barrick Gold Corp, which fell 0.8 percent to C$26.67.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.8 percent.   Continued...