CANADA STOCKS-Mining shares pull TSX lower ahead of long weekend
* TSX falls 54.63 points, or 0.37 percent, to 14,534.26 * Nine of 10 main index sectors decline * Goldcorp, Teck follow bullion, copper prices lower By John Tilak TORONTO, May 16 (Reuters) - Canada's main stock index declined on Friday as a fall in the prices of some commodities weighed on the materials sector and investors appeared hesitant to take major positions ahead of the long weekend. The market digested government data that showed foreign investors sold C$1.23 billion ($1.13 billion) worth of Canadian securities in March, the first divestment this year, while domestic purchases of overseas assets hit a 16-month high. After climbing nearly 7 percent so far this year, the benchmark stock index slipped in the last three sessions and looked on track to end the week lower. "We're still at a point where neither the bulls the bears are really able to take control and keep it for very long," said Colin Cieszynski, senior market analyst at CMC Markets Canada. "We're seeing a standoff or pause, where nobody really wants to do much ahead of the weekend and they're taking stock to figure out what to do next," he added. The market will be closed on Monday for the Victoria Day holiday. The Toronto Stock Exchange's S&P/TSX composite index was down 54.63 points, or 0.37 percent, at 14,534.26. Nine of the 10 main sectors on the index were in the red. The materials sector, which includes mining stocks, dropped as the prices of gold, silver and copper slipped in choppy trading. Goldcorp Inc was down 0.7 percent at C$26.92, and Teck Resources Ltd shed 1.8 percent to C$24.46. Financials, the index's most heavily weighted sector, gave back 0.5 percent. Manulife Financial Corp lost 0.8 percent to C$19.92, and Royal Bank of Canada fell 0.4 percent to C$72.93. (Editing by W Simon)
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