CANADA STOCKS-TSX lower as energy stocks slip, miners rise

Fri Aug 7, 2015 10:56am EDT
 
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* TSX down 38.75 points, or 0.27 percent, at 14,367.16

* Six of 10 main groups lower; tracking for 0.7 percent weekly fall

By Alastair Sharp

TORONTO, Aug 7 (Reuters) - Canada's main stock index slipped on Friday, with shares in gold miners among the leading lights and energy companies weighing heavily amid weakness in the underlying commodities.

Miners helped limit the damage, with Barrick Gold Corp jumping 6 percent to C$9.53, and Goldcorp Inc advancing 2.3 percent to C$18.08. The materials group climbed 1.4 percent as the price of gold steadied.

The most influential weights included First Quantum Minerals Ltd, which fell 3.7 percent to C$9.90, and Encana Corp , which declined 3.3 percent to C$9.09.

The overall energy group retreated 0.2 percent, with losses offset by a move higher by Canadian Natural Resources, up 0.8 percent to C$33.05.

U.S. crude prices were down 0.9 percent to $44.27 a barrel, while Brent crude lost 1.2 percent to $48.95.

"In terms of the divergence between commodity prices and the performance of the energy stocks, it's a reflection of some rotation that we're seeing in the market," said Craig Fehr, Canadian market strategist at Edward Jones in St. Louis, Missouri.   Continued...