CANADA STOCKS-TSX dips on oil and mining stocks; financials rise

Fri Nov 6, 2015 11:29am EST
 
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(Updates prices)

* TSX down 39.63 points, or 0.29 percent, to 13,519.38

* Seven of the TSX's 10 main groups fall

TORONTO, Nov 6 (Reuters) - Canada's main stock index retreated on Friday, as oil and mining company stocks dragged, offsetting solid gains for financials.

Global oil prices slid, dragging the influential energy sector lower, and gold miners were hit by a fall in the price of bullion to a three-month low after the spike in U.S. employment made it more likely the U.S. Federal Reserve will hike interest rates in December.

Goldcorp Inc fell 4.1 percent to C$15.34, while Barrick Gold Corp lost 4.6 percent to C$9.25.

The prospect of higher U.S. interest rates bolstered the dollar, making commodities denominated in the greenback less affordable to holders of other currencies.

At 11:19 a.m. ET (1619 GMT), the Toronto Stock Exchange's S&P/TSX composite index fell 39.63 points, or 0.29 percent, to 13,519.15.

Seven of the TSX's 10 main groups fell, with losses among energy and mining stocks weighing most heavily on the index. The overall energy group retreated 1.6 percent while the materials group retreated 2.3 percent.   Continued...