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: Quote) and Suncor (SU.TO: Quote) sagged, each falling about 0.9 percent, while Goldcorp (G.TO: Quote) and Barrick (ABX.TO: Quote) 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: Quote) rose 2.8 percent to C$103.16, while Agrium (AGU.TO: Quote) gained 2.6 percent to C$57.13.   Continued...