*TSX ends down 15.21 points at 11,713.43
*Index in narrow range ahead of Canadian holiday
*Six of TSX’s main sectors lower (Adds details)
By Jennifer Kwan
TORONTO, July 30 (Reuters) - Toronto’s main stock index ended lower on Friday as weaker than expected gross domestic product data fueled investor fears about a slow recovery.
On the downside were energy and financial shares, down 0.4 percent and 0.5 percent, respectively, after U.S. growth slowed in the second quarter, adding to anxiety about the longer-term outlook. [ID:nN30215488]. Canada’s economy grew in May, but only just. [ID:nN30274982]
“You’re seeing some of these economically sensitive sectors being weighed down by concerns that growth is not yet as robust as it should be,” said Elvis Picardo, analyst and strategist at Global Securities in Vancouver.
The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE finished the day down 15.21 points, or 0.13 percent, at 11,713.43, with six of its 10 main sectors lower.
The index was unchanged on the week, and on the month it was up 3.7 percent, its best monthly performance since February.
Picardo said the market traded in a narrow range on Friday as investors were reluctant to make big bets ahead of a holiday weekend. The TSX is closed on Monday for the Civic Holiday.
“The markets have traded in a fairly narrow range all day. It’s a combination in Canada of seasonally low volumes coupled with the fact that you’ve got a long weekend coming up,” he said.
“There’s still a considerable degree of uncertainty out there so when you have a long weekend -- and especially with the U.S. open and Canada closed -- the tendency might be for investors to take their money and run.”
U.S. gross domestic product expanded at a 2.4 percent annual rate in the second quarter, just below the 2.5 percent forecast, after an upwardly revised 3.7 percent gain in the January-March quarter. [ID:nN30215488]
Bullion prices rallied on the disappointing U.S. second-quarter growth data and Toronto’s gold-mining shares followed suit. Barrick Gold (ABX.TO) was up 0.6 percent at C$42.26, and Goldcorp (G.TO) rose 0.3 percent to C$40.30. [GOL/]
Research In Motion RIM.TO, up 2.6 percent at C$59.15, was in the spotlight as it was expected to announced next Tuesday its long-awaited answer to the iPhone at a company event in Manhattan. [ID:nN30193142] Also, see: [ID:nLDE66T00D]
Domtar Corp (UFS.TO) (UFS.N) posted a second-quarter profit that blew past market estimates, helped partly by higher pulp shipments, and said third-quarter results would benefit from lower costs. Its shares were a top net gainer on the TSX, soaring 8.5 percent to C$60.24. [ID:nSGE66B0IQ]
Brookfield Properties Corp BPO.TO, one of Manhattan’s biggest landlords, reported a sharp rise in quarterly funds from operations, and said it plans to transform itself into a pure-play office property company. Its shares slid 3.4 percent to C$15.50. [ID:nSGE66T0V8]
The blue chip S&P/TSX 60 index .TSE60 closed 1.17 points, or 0.17 percent, lower at 685.03. ($1=$1.03 Canadian) (Reporting by Jennifer Kwan; editing by Peter Galloway)