CANADA STOCKS-TSX hurt by commodity losses, boosted by insurers

Fri Nov 6, 2015 4:59pm EST
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(Adds portfolio manager comment, updates prices)

* TSX ends down 5.48 points, or 0.04 percent, at 13,553.30.

* Six of the TSX's 10 main groups fall

By Alastair Sharp

TORONTO, Nov 6 (Reuters) - Canada's main stock index was torn between losses for energy and mining stocks and gains for financial names on Friday, with both moves magnified by a surge in U.S. jobs that made it more likely the Federal Reserve will hike interest rates in December.

The employment report pushed the greenback to a seven-month high, which in turned weighed on a string of commodities and the Canadian companies that extract, drill, produce and move them.

The materials group, which includes miners, fell 1.4 percent. Goldcorp Inc fell 4.2 percent to C$15.34, while Barrick Gold Corp lost 3.3 percent to C$9.38 as the price of bullion fell to a three-month low.

TransCanada closed down 4.3 percent at C$43.32 after U.S. President Barack Obama rejected the company's proposed Keystone XL oil pipeline after more than seven years of often rancorous debate.

"We are shocked that there was any value of Keystone left in TransCanada," said Norman Levine, managing director at Portfolio Management Corp.   Continued...