CANADA STOCKS-TSX rising streak snapped as resource shares retreat

Fri Jul 17, 2015 4:57pm EDT
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(Adds Edward Jones strategist's comments, updates prices to close)

* TSX ends down 88.24 points, or 0.60 percent, at 14,642.84

* Six of 10 main groups gain, but the three biggest retreat

By Alastair Sharp

TORONTO, July 17 (Reuters) - Canada's main stock index fell on Friday, snapping a five-session streak of gains as investors pulled back from mining and oil and gas companies and banks also dropped.

With bullion prices hitting a five-year low, Canada's gold miners featured prominently in the loss column. Franco-Nevada Corp gave up 3.4 percent to C$55.75 and Goldcorp Inc fell 6.1 percent to C$19.10. The index's materials sector, which includes miners, fell 2.8 percent.

The Toronto Stock Exchange's S&P/TSX composite index lost 88.24 points, or 0.60 percent, to close at 14,642.84. It gained 1.6 percent over the week, with financial shares accounting for much of the gains.

Market watchers expect further volatility as a range of factors vie for attention in coming weeks and months.

"As investors try to digest all these different pieces of the puzzle, from the Fed rate hike to the Bank of Canada rate cut, China to Greece to earnings, we're going to see a lot more of these weeks where it's up, up, down, up, up, down," said Craig Fehr, Canadian market strategist at Edward Jones in St. Louis, Missouri.   Continued...