CANADA STOCKS-TSX pulled lower by U.S. data, mining shares
* TSX down 22.94 points, or 0.16 percent, at 14,711.75 * Six of 10 main index sectors advance * Teck, First Quantum slip with copper price By John Tilak TORONTO, June 4 (Reuters) - Canada's main stock index edged lower on Wednesday as the energy sector slipped after sluggish U.S. private-sector job growth and a drop in the price of copper fueled declines in the mining sector. Figures from payrolls processor ADP showed U.S. companies hired fewer-than-expected workers in May and posted the lowest monthly gain since January. Copper futures were down 1.5 percent, weighing on shares of miners such as Teck Resources Ltd and First Quantum Minerals Ltd. The Toronto market eased after climbing in each of the previous three sessions. It is still up 8 percent this year. "The market is looking a little tired," said David Cockfield, managing director and portfolio manager at Northland Wealth Management, who expects a pullback at some point. "We've gone too long without a correction," he added. "It's not a market that one can get terribly excited about." Cockfield, who expects the Canadian benchmark index to outperform U.S. stocks in 2014, said most of the index's potential gains for the year might have already been recorded. The Toronto Stock Exchange's S&P/TSX composite index was down 22.94 points, or 0.16 percent, at 14,711.75. Six of the 10 main sectors on the index were higher. Shares of energy producers declined 0.2 percent despite higher oil prices. Enbridge Inc shed 0.8 percent to C$51.46, and Talisman Energy Inc fell 0.7 percent to C$11.14. Among mining stocks, First Quantum lost 1.9 percent to C$22.13 and Teck gave back 1.2 percent to C$23.90. Northland Wealth Management's Cockfield said he recently got rid of most of his holdings in the mining sector because he does not see too many catalysts for the group. (Editing by Jonathan Oatis)
© Thomson Reuters 2017 All rights reserved.