CANADA STOCKS-TSX dips as financials drag; gold stocks rally

Thu Apr 28, 2016 5:44pm EDT
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(Adds analyst comments, details on Manulife, Canadian Natural Resources; updates prices)

* TSX closed down 1.23 points, or 0.01 percent, at 13,886.43

* Six of the TSX's 10 main groups ended lower

By Fergal Smith

TORONTO, April 28 (Reuters) - Canada's main stock index edged slightly lower on Thursday as losses for financials and other sectors offset gains for gold miners and Bombardier Inc after the company won a large plane order.

The index has rallied 20 percent since January but has been unable to climb back above the 14,000 threshold. It moved back in reach of that level on Thursday before turning lower as losses on Wall Street deepened after the Bank of Japan's shocking call to cap monetary stimulus continued to rattle investors.

The rally in gold and oil helped the index outperform U.S. stock markets, according to Colin Cieszynski, senior market analyst at CMC Markets Canada.

Spot gold rose 1.8 percent, while oil hit 2016 highs for a third straight day as a weaker dollar had investors shrugging off record high U.S. crude inventories. U.S. crude prices settled at $46.03 a barrel, up 1.54 percent.

The Toronto Stock Exchange's S&P/TSX composite index fell 1.23 points, or 0.01 percent, to 13,886.43. Six of the index's 10 main groups ended lower.   Continued...