CANADA STOCKS-TSX retreats as greenback rally pressures commodity prices

Tue May 26, 2015 11:01am EDT
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(Updates throughout with fresh details, analyst comment, market moves)

* TSX down 81.85 points, or 0.54 percent, to 15,105.55

* All of the TSX's 10 main groups decline

By Solarina Ho

TORONTO, May 26 (Reuters) - Canada's main stock index stumbled on Tuesday, with gold mining and energy stocks bruised by slumping gold and crude prices following a U.S. data-driven rally in the greenback.

After a lackluster first quarter, the U.S. economy was showing signs of getting back on track following better-than-expected durable goods orders. The more upbeat data could help push the Federal Reserve closer to deciding when it will resume hiking interest rates.

"Surprisingly, Canadian stocks ... have held in reasonably well," said Colin Cieszynski, Senior market analyst at CMC Markets Canada.

"Durable goods orders have turned back around, the U.S. economy is strengthening, the Fed raising interest rates is back on. Even if it's not June, it may not be December either."

The overall materials group, home to mining companies, retreated 1.5 percent as gold prices slid up to 2 percent on a stronger U.S. dollar.   Continued...