CANADA STOCKS-TSX dips, pressured by financials and auto stocks

Mon Jan 16, 2017 4:50pm EST
 
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(Adds portfolio manager comments and background details, updates prices)

* TSX closes down 17.99 points, or 0.12 percent, at 15,479.29

* Six of the TSX's 10 main groups end lower

By Fergal Smith

TORONTO, Jan 16 (Reuters) - Canada's main stock index fell on Monday, with financials down and several auto parts makers losing ground as U.S. President-elect Donald Trump upped pressure on carmakers to build in the United States.

The most influential weights on the Toronto Stock Exchange's S&P/TSX composite index included Magna International Inc, which fell 3.1 percent at C$56.98, and Linamar Corp , which lost 3.5 percent to C$55.65.

Trump warned German carmaker BMW he would impose a border tax of 35 percent on vehicles they build in Mexico and export to the U.S. market, according to excerpts of a German newspaper interview released on Sunday.

While most of Trump's attention has been focused on the use of Mexican plants, it is not clear that Ontario's auto industry, closely intertwined with that of Detroit, will escape unharmed.

The Toronto Stock Exchange's S&P/TSX composite index closed down 17.99 points, or 0.12 percent, at 15,479.29. Six of the index's 10 main groups ended lower.   Continued...