CANADA STOCKS-TSX slips as Home Capital sentiment, resource stocks drag

Wed May 3, 2017 5:31pm EDT
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* TSX down 76.51 points, or 0.49 percent, to 15,543.14

* All 10 of TSX's main industry groups end lower

By Solarina Ho

TORONTO, May 3 (Reuters) - Canada's main stock index retreated on Wednesday as lower commodity prices weighed on resource stocks, while negative sentiment around troubled Home Capital Group Inc spilled over into the broader financial sector.

The Toronto Stock Exchange's S&P/TSX composite index closed down 76.51 points, or 0.49 percent, at 15,543.14. All of the index's 10 biggest groups lost ground.

"More so than anything, it's the Home Capital sentiment spillover that's leading to some caution," said Bryden Teich, portfolio manager at Avenue Investment Management.

"That kind of sentiment could linger for a little bit, but fundamentals still look pretty good."

The overall materials group, home to precious and base metals miners and fertilizer companies, lost 1.3 percent, tracking falls in base metals, including copper and nickel. Copper prices fell 3.5 percent to $5,600.15 a tonne.

Teck Resources Ltd fell 5.8 percent to C$26.64, while First Quantum Minerals Ltd gave back 5.4 percent to C$12.03.   Continued...