May 15, 2018 / 2:53 PM / 2 years ago

CANADA STOCKS-TSX edges lower as NAFTA deal hopes ebb, gold prices drop

May 15 (Reuters) - Canada’s main stock index edged lower on Tuesday as chances of a NAFTA deal this week faded and shares of gold miners dropped with prices of the precious metal hitting their lowest this year.

* At 10:05 a.m. ET (1405 GMT), the Toronto Stock Exchange’s S&P/TSX composite index fell 11.74 points, or 0.07 percent, to 16,073.87.

* Mexico’s economy minister Ildefonso Guajardo said on Tuesday that he does not expect to meet a deadline this Thursday to reach a new North American Free Trade Agreement that could be presented to the current U.S. Congress.

* The materials sector dropped 0.86 percent, weighed down by a 1.9 percent drop in Barrick Gold and a 2.4 percent decline in Goldcorp.

* Gold slid more than 1 percent, falling for a third day, as a rise in U.S. borrowing costs pushed up the dollar and overshadowed the impact of strife in Gaza.

* Shares of Element Fleet Management jumped 15 percent after the vehicle fleet manager posted its first-quarter results. The shares were the most heavily traded on the TSX.

* Resales of Canadian homes fell 2.9 percent in April from March to the lowest level in more than five years, the Canadian Real Estate Association said.

* Declining issues outnumbered advancing ones on the TSX by 144 to 96, for a 1.50-to-1 ratio on the downside.

* The TSX posted six new 52-week highs and seven new lows. Across all Canadian issues, there were 17 new 52-week highs and 51 new lows.

* Volume on the TSX index was 40.74 million shares. Total volume on Tuesday was 63.84 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel)

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