CANADA STOCKS-TSX falls as energy stocks slip, Cameco falls

Wed Jan 18, 2017 10:13am EST
 
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(Adds details on specific stocks, updates prices)

* TSX falls 48.71 points, or 0.32 percent, to 15,392.65

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

TORONTO, Jan 18 (Reuters) - Canada's main stock index fell on Wednesday as energy stocks weighed with a fall in oil prices and uranium producer Cameco Corp plunged on a negative outlook.

Cameco fell 12.2 percent to C$15.21 after the company said it expected its 2016 adjusted profit to be significantly lower than analysts' estimates and also said it would cut 120 jobs at three of its uranium mines in 2017.

Cameco's fall offset broader gains among the materials sector, which includes precious and base metals miners and fertilizer companies.

Goldcorp Inc advanced 1.2 percent to C$20.01 and First Quantum Minerals Ltd rose 1.4 percent to C$17, with gold just off an eight-week high and copper steadying after a sharp fall in the prior session.

Oil prices fell on expectations that U.S. producers would boost output, just as OPEC signaled that a global supply-reduction deal will shrink the oil glut this year.

Suncor Energy Inc slipped 0.8 percent to C$42.39, while Crescent Point Energy Corp declined 2.3 percent to C$16.02.   Continued...