CANADA STOCKS-TSX slips as resource stocks weigh; banks bounce

Wed Dec 2, 2015 10:41am EST
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(Adds details of trading, sector moves; updates prices)

* TSX falls 38.08 points, or 0.28 percent, to 13,597.98

* Seven of the TSX's 10 main groups decline

TORONTO, Dec 2 (Reuters) - Canada's main stock index slipped on Wednesday, pushed lower by a sharp fall in energy stocks on cheaper oil and losses for miners as gold and copper prices also declined.

The overall retreat was offset by gains for two major banks after they reported earnings.

At 10:29 a.m. EST (1529 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 38.08 points, or 0.28 percent, to 13,597.98.

The most influential weights on the index included Suncor Energy Inc, which fell 1.2 percent to C$37.35, and Canadian Natural Resources, which declined 1.6 percent to C$31.82.

U.S. crude prices were down 2.0 percent to $41.02 a barrel, while Brent crude lost 1.9 percent to $43.58, as U.S. inventories rose and investors discounted the possibility of OPEC cutting output at its meeting this week.

The overall energy group retreated 1.6 percent, while materials stocks retreated 0.9 percent.   Continued...