CANADA STOCKS-TSX falls as gold and energy shares lose ground

Fri Oct 14, 2016 5:43pm EDT
 
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(Adds portfolio manager quotes, details on energy and utilities companies, updates prices)

* TSX closes down 58.72 points, or 0.4 percent, at 14,584.99

* Seven of the TSX's 10 main groups end lower

* Index rises 0.1 percent for the week

By Fergal Smith

TORONTO, Oct 14 (Reuters) - Canada's main stock index fell on Friday as a stronger U.S. dollar pressured gold prices and energy companies scrambled to protect pipelines.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.5 percent as gold prices fell and copper prices hit a one-month low.

Barrick Gold Corp fell 2.6 percent to C$20.60, while Goldcorp Inc declined nearly 3 percent to C$18.81 and Kinross Gold Corp was down 4.4 percent at C$4.74.

Spot gold fell 0.4 percent as the U.S. dollar rose after strong U.S. retail sales and producer prices data for September reinforced expectations the Federal Reserve would raise interest rates in December.   Continued...