CANADA STOCKS-TSX falls in broad retreat, led by resource stocks

Fri Jan 6, 2017 10:11am EST
 
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(Adds details on specific stocks, updates prices)

* TSX down 61.85 points, or 0.4 percent, at 15,524.73

* All of the TSX's 10 main groups move lower

TORONTO, Jan 6 (Reuters) - Canada's main stock index fell in early trading on Friday, with gold miners and other materials stocks leading a broad retreat from the three-day rally that started the year.

At 9:42 a.m. ET (1442 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 61.85 points, or 0.4 percent, at 15,524.73 despite booming jobs and trade data.

All of the index's 10 main groups were in negative territory, with four declining issues for every gainer.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.3 percent.

The composite index had made sharp gains in the first three sessions of the year, taking it within striking distance of an all-time high, and it remained on track for a 1.6 percent rise over the course of the shortened week.

The most influential weights on the index included Tahoe Resources Inc, which fell 8.7 percent to C$13.52 after the miner forecast 2017 capital spending above estimates, analysts said. Tahoe also said it expected flat gold production in 2017 and lower silver output, lagging consensus expectations.   Continued...