RPT-CANADA STOCKS-TSX turns lower with commodity prices

Thu Sep 17, 2009 1:08pm EDT
 
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* TSX falls 0.67 percent to 11,477.98

* Commodities main drag as oil, gold slip

* Profit-taking cited after five-day run higher (Updates prices and turn in market direction)

TORONTO, Sept 17 (Reuters) - Toronto's main stock index reversed direction to turn lower on Thursday afternoon as profit-taking set in after five straight sessions of gains.

The influential energy and materials groups were the main drags, slipping as the price of gold eased from 18-month highs, while oil held nearly unchanged around $72.60 a barrel.

The oil and gas group was off nearly 1 percent, while materials, home to the gold miners, was down 1.4 percent.

Heavyweights such as EnCana ECA.TO and Suncor SU.TO sagged, each falling about 0.9 percent, while Goldcorp G.TO and Barrick ABX.TO each fell more than 1.5 percent.

Although the materials group was lower, surging fertilizer stocks kept the sector's decline from deepening. Potash Corp POT.TO rose 2.8 percent to C$103.16, while Agrium AGU.TO gained 2.6 percent to C$57.13.   Continued...