January 16, 2018 / 12:37 PM / a year ago

TSX retreats as lower commodity prices pressure resource stocks

TORONTO (Reuters) - Canada’s main stock index fell on Tuesday as lower commodity prices weighed on the shares of materials and energy companies.

FILE PHOTO: A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. REUTERS/Mark Blinch

- The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE closed down 72.93 points, or 0.45 percent, at 16,298.88.

- Losses for the index came as the recent rally on Wall Street paused.

- The materials group, which includes precious and base metals miners and fertilizer companies, fell 1.2 percent, while the energy group retreated 1.9 percent.

- The most influential weights included oil and gas producer Encana Corp (ECA.TO), which fell 5 percent to C$16.72.

Barrick Gold Corp (ABX.TO) declined 3.1 percent to C$18.88 and diversified miner Teck Resources Ltd (TECKb.TO) was down 4.1 percent at C$37.06.

- Gold slipped from a four-month high reached on Monday as the U.S. dollar clawed back some lost ground, while copper and nickel hit multi-week lows. Crude prices also pulled back after recent gains.

- BlackBerry Ltd (BB.TO) fell 1.7 percent to C$17.18 despite launching cyber-security software that identifies vulnerabilities in programs used in self-driving cars.

- Eight of the index’s 10 main groups ended lower.

- Yellow Pages Ltd (Y.TO) advanced 0.7 percent to C$8.27 after the company, once well known for its thick-print directories, said it would fire about 500 employees to cut costs and turn around its digital advertising platform.

- SSR Mining Inc (SSRM.TO) jumped 12.3 percent to C$11.48 after the precious metal miner reported fourth-quarter earnings and provided guidance for 2018.

- Constellation Software Inc (CSU.TO) climbed 6.9 percent to C$787.87 after its Harris Operating Group acquired Acceo Solutions for C$250 million.

Reporting by Fergal Smith and Alastair Sharp; Editing by Bernadette Baum and Peter Cooney

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