CANADA STOCKS-TSX ends slightly lower after posting a 9-month high

Thu May 26, 2016 5:50pm EDT
 
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(Adds portfolio manager quotes and details on Enbridge)

* TSX down 4.54 points, or 0.03 percent, at 14,049.20

* Five of the TSX's 10 main groups ended lower

By Fergal Smith

TORONTO, May 26 (Reuters) - Canada's main stock index edged slightly lower on Thursday, including losses for resource stocks as oil and gold prices dipped.

Still, the index has rallied nearly 22 percent from an almost 3-1/2-year low in January of 11,531.22, while it touched a fresh nine-month high earlier on Thursday.

It has been "climbing a wall of worry," overcoming concerns about the health of the economy and the prospect of U.S. interest rate hikes, said Rick Hutcheon, president and chief operating officer at RKH Investments.

It wouldn't be a surprise if the market were to pause to digest recent gains, but "the direction of least resistance is probably upwards," he added.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.4 percent.   Continued...