August 28, 2017 / 11:34 AM / in 4 months

TSX little changed as energy decline offset by miners

TORONTO (Reuters) - Canada’s main stock index was little changed on Monday as a decline in U.S. crude oil prices weighed on shares of companies in the energy sector, offsetting a gain in the gold-mining sector. U.S. crude oil prices fell 2.4 percent after Tropical Storm Harvey inflicted damage along the U.S. Gulf Coast during the weekend. In the heavily weighted energy sector, Canadian Natural Resources Ltd CNQ.TO slipped 0.1 percent to C$38.60, and Suncor Energy Inc SU.TO fell 0.6 percent to C$38.96. Overall, the energy group shed 0.9 percent.

The Toronto Stock Exchange sign is seen in Toronto, Ontario, Canada July 6, 2017. REUTERS/Chris Helgren

Bullion prices hit a 9-1/2-month high following comments from the head of the European Central Bank at a meeting of central bankers that the euro zone’s economic recovery had taken hold.

Barrick Gold Corp ABX.TO climbed 3.2 percent to C$22.08, and Goldcorp Inc G.TO added 3.3 percent to C$16.84. The financial services sector lost 0.4 percent. Royal Bank of Canada RY.TO was down 0.2 percent at C$93.04, and Toronto Dominion Bank TD.TO retreated 0.3 percent to C$64.66.

The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE closed down 3.96 points, or 0.03 percent, at 15,052.03. Six of the TSX’s 10 main groups were lower. Shares of Toromont Industries Ltd TIH.TO jumped 11.1 percent to C$49.87 after the company said it would buy privately held Hewitt Group for about C$1.02 billion ($818 million) in cash and shares to expand its network of heavy equipment dealers in eastern Canada.

Reporting by John Tilak; Editing by W Simon and Dan Grebler

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