CANADA STOCKS-TSX ends lower, but still up for the week

Fri Feb 17, 2012 4:57pm EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX down 27.29 pts, or 0.2 pct, at 12,458.30

* Index still up 0.6 pct for the week

* Gold miners, financials drag

* Greek debt deal progress helps sentiment

By Jon Cook

TORONTO, Feb 17 (Reuters) - Canadian stocks fell slightly on Friday as earnings-related drops in gold-mining and financial issues offset optimism that Greece will seal a long-awaited bailout deal next week and avoid a messy debt default.

Soft earnings from Canada's top gold miners this week dragged on the heavyweight materials sector, which fell 1 percent. Financial shares were down 0.1 percent, hurt by a big quarterly loss reported by Fairfax Financial Holdings.

Among miners, Barrick Gold fell 2.4 percent to C$46.83 after the country's largest gold producer reported an increase in quarterly operating profit on Thursday, but still fell short of expectations.

Smaller miners Kinross Gold and Agnico-Eagle also weighed after both reported big impairment charges. Kinross was down 1.8 percent at C$10.87, and Agnico-Eagle fell 3.5 percent to C$35.27.   Continued...