CANADA STOCKS-TSX falls as gold miners, banks weigh

Mon Oct 3, 2016 5:00pm EDT
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(Adds portfolio manager comment, updates prices to close)

* TSX ends down 36.82 points, or 0.25 percent, at 14,689.04

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

By Alastair Sharp

TORONTO, Oct 3 (Reuters) - Canada's main stock index fell on Monday, as major gold miners lost ground and heavyweight banks also pulled back as the federal government tightened mortgage and tax rules in a bid to cool the housing market.

The most influential stocks weighing on the index included Goldcorp Inc which fell 4.5 percent to C$20.68 after it temporarily shut down its Peñasquito gold mine in Mexico due to a week-long blockade by a trucking contractor.

Barrick Gold Corp, which is dealing with its own forced shutdown of operations at a mine in Argentina, lost 1.9 percent to C$22.78.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.8 percent.

"Apart from the trials and tribulations of the giant gold companies which are mostly Canadian, the mining companies are experiencing a growing arrival of free cash flows," said Michael Smedley, chief portfolio manager at Morgan Meighen & Associates.   Continued...