CANADA STOCKS-Energy losses lead TSX lower, gold miners limit fall

Tue Oct 25, 2016 5:00pm EDT
 
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(Adds analyst comment, updates prices to close)

* TSX ends down 52.38 points, or 0.35 percent, at 14,870.63

* Nine of TSX's 10 main groups end lower

By Alastair Sharp

TORONTO, Oct 25 (Reuters) - Canada's main stock index fell on Tuesday in a broad retreat led by energy stocks as oil prices weakened, while gold miners offset the losses as bullion hit a near three-week high.

Four energy stocks were the heaviest weights on the index and the group lost 1.6 percent overall, as oil prices fell after a recent push above $50 a barrel.

The materials sector, which includes precious and base metals miners and fertilizer companies, was the only one of 10 main groups to gain, adding 1.8 percent.

The Toronto Stock Exchange's S&P/TSX composite index closed down 52.38 points, or 0.35 percent, at 14,870.63.

"This is more of a mean reversion behavior in the market, not necessarily a decisive move," said Sid Mokhtari, director of institutional equity research at CIBC World Markets. "It's been so far so good in Canada particularly."   Continued...