CANADA STOCKS-TSX slides for fifth day, but earnings temper losses

Thu Jul 23, 2015 11:41am EDT
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(Updates throughout with market moves, reaction to earnings, analyst comments)

* TSX down 51.48 points, or 0.36 percent, to 14,255.64

* Half of the TSX's 10 main groups fell

By Solarina Ho

TORONTO, July 23 (Reuters) - Canada's main stock index was headed for its fifth straight decline on Thursday as losses by the main financials, energy and materials sectors offset gains from companies reporting positive quarterly results.

U.S. crude prices were mostly flat but remained below $50 a barrel, levels that kept the pressure on energy shares, which were down 1.0 percent.

Suncor Energy Inc led with a retreat of 1.19 percent to C$33.15, followed closely by Enbridge Inc, which fell 1 percent to C$55.18.

"Oil prices breaking through $50 certainly was hurting ... (and) will be tough to navigate through," said Brian Pow, vice president, research, at Acumen Capital Partners in Calgary. "Just in terms of (Canadian) dollar weakness, it's making people question what they want to do."

At 11:03 a.m. EDT (1503 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 51.48 points, or 0.36 percent, at 14,255.64.   Continued...