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

Thu Jul 23, 2015 4:36pm EDT
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(Updates throughout with market moves)

* TSX down 41.75 points, or 0.29 percent, at 14,265.37

* Seven of the TSX's 10 main groups fall

By Solarina Ho

TORONTO, July 23 (Reuters) - Canada's main stock index declined for a fifth straight session on Thursday, hit by losses in the heavyweight financials, energy and materials sectors.

While positive quarterly results helped boost gains in some large-cap Canadian companies, weakness in copper, bullion and U.S. crude oil prices ensured the key natural resource sectors would end the day in the red.

The benchmark TSX index is down about 2.5 percent this year.

"I just see panic in the Canadian market," said David Cockfield, managing director and portfolio manager at Northland Wealth Management.

"There's a lot of sound and fury, but no real rationale," he added. "You don't get in front of the stampede. You just have to sit back and watch."   Continued...