CANADA STOCKS-TSX falls as profit-taking ends 5 days of gains

Thu Sep 17, 2009 5:20pm EDT
 
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* TSX closes down 0.24 percent at 11,528.23

* Profit-taking sets in after five straight days of gains

* Financials hold up, but energy, materials groups fall (Adds comments, details)

By Wojtek Dabrowski

TORONTO, Sept 17 (Reuters) - Toronto's main stock index finished lower on Thursday as investors decided to take profits after five straight sessions of gains.

The pullback was broad, with eight of the index's 10 main groups pacing lower. The two advancing groups, financials and health care, rose 0.45 percent and 0.18 percent, respectively.

"It feels like a pause more than anything else," said Elvis Picardo, vice-president of research at Global Securities in Vancouver. "The point to note also is the market continues to display pretty impressive resilience."

The S&P/TSX composite index .GSPTSE dropped 27.37 points, or 0.24 percent, to end at 11,528.23, retreating as crude ended slightly lower and gold backed away from 18-month highs.

Among its falling components, the energy group edged down 0.4 percent, while the resource-heavy materials group gave up 1.37 percent.   Continued...