CANADA STOCKS-TSX slips on day and week; eyes bank earns, Fed

Fri Aug 19, 2016 5:05pm EDT
 
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(Adds investment strategist comment, updates prices to close)

* TSX ends down 8.22 points, or 0.06 percent, at 14,687.46

* Index slips 0.4 pct over week

By Alastair Sharp

TORONTO, Aug 19 (Reuters) - Canada's main stock index closed a fraction lower on Friday as investors awaited bank earnings and more talk from the U.S. Federal Reserve next week, giving the TSX its third straight directionless day.

Toronto Stock Exchange's S&P/TSX composite index closed down 8.22 points, or 0.06 percent, at 14,687.46. It lost 0.4 percent over the week in low-volume trade as a recent pullback lost momentum and investors looked ahead.

"It's Friday. We're just taking a little bit of a breather," said Kevin Headland, senior investment strategist at Manulife Investments.

"The last couple of days, and today, are a breather post-Fed minutes, post the end of U.S. earnings season, perhaps adjusting, looking forward to Canadian earnings," he added.

Canada's biggest banks report third-quarter earnings starting with Bank of Montreal next Tuesday followed by Royal Bank of Canada, Toronto-Dominion Bank and Canadian Imperial Bank of Commerce later in the week. Bank of Nova-Scotia follows the week after.   Continued...