CANADA STOCKS-Energy stocks lead broad declines, miners buck trend

Mon Jan 23, 2017 10:39am EST
 
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(Adds details on specific stocks, updates prices)

* TSX down 49.07 points, or 0.32 percent, at 15,498.81

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

TORONTO, Jan 23 (Reuters) - Canada's main stock index fell on Monday as energy companies retreated along with lower oil prices, while mining shares bucked a broadly weaker trend on higher metal prices.

At 10:21 a.m. ET (1521 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 49.07 points, or 0.32 percent, at 15,498.81.

Nine of the index's 10 main groups were in negative territory, and decliners outnumbered gainers by 3-to-2 overall.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.8 percent, as copper rose in part on hopes that U.S. President Donald Trump's incoming administration would make good on a pledge to boost infrastructure spending in the world's largest economy.

In his inauguration speech on Friday, Trump said his administration would "build new roads, and highways, and bridges, and airports, and tunnels, and railways all across our wonderful nation."

Teck Resources Ltd advanced 2.2 percent to C$32.11 and Hudbay Minerals Inc rose 2.9 percent to C$9.47.   Continued...