* TSX ends down 0.2 percent at 11,413.54
* U.S. downgrade of Goldman Sachs hurts financials
* Rising commodities prices support oil, materials groups (Adds details)
TORONTO, Oct 13 (Reuters) - Toronto’s main stock index fell slightly on Tuesday as strength in commodity prices was not enough to offset a drop in banking issues, which, led lower by Royal Bank of Canada (RY.TO), mirrored weakness in U.S. financial issues.
Without much Canadian news to influence the market, investors were discomforted by a downgrade on Goldman Sachs Group (GS.N) to “neutral” from “buy”. [ID:nBNG167833]
Financials, which make up about a third of the index’s weighting, fell 1.6 percent, with all five of Canada’s biggest banks and two of its largest insurers among the top 11 most notable decliners.
Royal, Canada’s biggest bank, topped all decliners, falling 1.5 percent to C$55.13, followed by Toronto-Dominion Bank (TD.TO), down 1.8 percent at C$64.64. Insurer Manulife (MFC.TO) lost 2 percent to C$22.08.
The oil and gas and materials groups, which together account for more than 40 percent of the index’s weighting, were well supported by a record high gold price and a fourth straight session of higher oil prices.
“Oil and gold are not enough to hold the whole index and financials just slowed things down,” said Francis Campeau, broker at MF Global Canada, in Montreal.
The S&P/TSX composite index .GSPTSE closed 23.38 points lower, or 0.2 percent, at 11,413.54.
($1=$1.03 Canadian) (Reporting by Ka Yan Ng; editing by Peter Galloway)