CANADA STOCKS-TSX dips as banks, oil and mining shares slide
By Leah Schnurr TORONTO, Sept 5 (Reuters) - Canada's main stock index edged lower on Friday, following global equities markets lower as it was weighed by declines in shares of financial, energy and mining companies. A disappointing jobs report also offered no comfort to investors after data showed the Canadian economy unexpectedly shed 11,000 jobs last month. Bank stocks were among the biggest weights on the Toronto index, with Royal Bank of Canada, Toronto Dominion and Bank of Montreal all lower. Shares of Manulife Financial were down for a second day in a row after the company earlier this week said it had agreed to buy Standard Life's Canadian operations. Manulife was down 0.5 percent at C$21.93 and has lost more than 2 percent since the deal was announced. Still, the day's weakness was likely just a short-term pause for Bay Street, said John Kinsey, portfolio manager at Caldwell Securities Ltd in Toronto. The TSX is up about 14 percent for the year and is not far from its record high. "I think we're still in an up trend, the markets have been pretty strong all year," said Kinsey. "The Canadian market is a little more vulnerable than the U.S. because of the large commodity component in it." The Toronto Stock Exchange's S&P/TSX composite index was down 43.65 points, or 0.28 percent, at 15,533.14. Materials and energy shares lost 0.4 percent and 0.3 percent, respectively. Goldcorp gave up 1.2 percent at C$27.88 the day after its chief executive said gold production this year could end up near the bottom end of its forecast range if it is unable to restart output at one of its Mexican mines. On the upside, shares of Bombardier gained 0.6 percent to C$3.67 after the train and plane maker said flight testing for its CSeries will resume this month. Air Canada rose 2.8 percent to C$9.08 after it said its load factor rose in August. (Additional reporting by Alastair Sharp Editing by W Simon)
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