CANADA STOCKS-TSX dips with weaker technology stocks; gold shares cushion losses

Fri Feb 5, 2016 5:13pm EST
 
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(Adds portfolio manager quotes, details on technology stocks, Alimentation Couche-Tard and Bce, updates prices)

* TSX down 10.51 points, or 0.08 percent, at 12,763.99

* Six of the TSX's 10 main groups fall

* Index falls 0.5 pct for week

By Fergal Smith

TORONTO, Feb 5 (Reuters) - Canada's main stock index dipped on Friday as a selloff in U.S. technology stocks spilled over to Canada's technology sector, but defensive names such as gold stocks helped cushion losses.

Canadian stocks held up better than those on Wall Street despite a weak Canadian jobs report. Indeed, Canada's market has fallen less than 2 percent since the start of 2016, comparing favorably to the 8 percent drubbing suffered by the S&P 500 over the same period.

"It does feel that the TSX is trying to find a bottom here," said Elvis Picardo, strategist at Global Securities in Vancouver.

The index fell 0.5 percent for the week, but it has rebounded nearly 11 percent from the three-year low hit in January.   Continued...