May 30, 2016 / 3:12 PM / a year ago

CANADA STOCKS-TSX dips as oil seesaws, gold hits 3-1/2-month low

2 Min Read

(Adds details on stocks and sectors throughout, updates prices)

* TSX fell 11.73 points, or 0.08 percent, to 14,093.5

* Just two of the TSX's 10 main groups were lower

TORONTO, May 30 (Reuters) - Canada's main stock index edged lower on Monday as oil seesawed and gold fell to a 3-1/2-month low, while financials firmed ahead of a potential increase in U.S. interest rates this summer.

Suncor Energy Inc's facilities north of Fort McMurray, Alberta, are expected to partially restart by the end of the week, the company said on Sunday, the latest sign that Canadian oil sands producers are coming back online after a massive wildfire.

Still, Suncor's shares dipped 0.2 percent to C$35.84, while Enbridge Inc fell 1.4 percent to C$52.02 as oil seesawed.

U.S. crude futures rose 2 cents to $49.35 a barrel in subdued trade as public holidays were observed in Britain and the United States.

Oil edged lower earlier in the session as Iraq raised its crude exports target ahead of an OPEC meeting while Canadian production was set to restart.

The materials group, which includes precious and base metals mining and fertilizer companies, lost 0.2 percent.

Barrick Gold Corp declined 0.6 percent to C$21.65 as spot gold fell 0.5 percent.

At 10:41 a.m. EDT (1441 GMT), the Toronto Stock Exchange's S&P/TSX composite index fell 11.73 points, or 0.08 percent, to 14,093.5. Just two of the index's 10 main groups were lower.

Last week, it touched a nine-month high of 14,143.50.

Financials stocks edged 0.2 percent higher, including a 0.5 percent gain for Toronto-Dominion Bank to C$57.93.

Gains came after U.S. Federal Reserve Chair Janet Yellen suggested on Friday that an interest rate hike in the United States may be around the corner.

Telecommunications stocks also advanced, up 0.3 percent. Bce Inc climbed 0.6 percent to C$60.81.

U.S. markets are closed for the Memorial Day holiday. (Reporting by Fergal Smith; Editing by Jeffrey Benkoe)

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