(Reuters) - Canada’s main stock index dipped on Friday for the fourth straight day, as a more than 2 percent drop in oil prices pushed energy stocks lower.
* At 9:48 a.m. ET (1348 GMT), the Toronto Stock Exchange’s S&P/TSX Composite Index was down 27.44 points, or 0.17 percent, at 16,086.18.
* Oil prices fell as Saudi Arabia and Russia said they were ready to ease supply curbs that have pushed crude prices to their highest since 2014.
* The energy sector fell 2.6 percent, weighed down by 1.2 percent drop in shares of Suncor Energy and 1 percent dip in Canadian Natural Resources.
* Also weighing on TSX was the 0.1 percent drop in shares of materials group, which includes precious and base metals miners.
* Mine developer Northern Dynasty ended talks with First Quantum to partner on an Alaska mine, which sent shares of the copper miner down 0.7 percent.
* Seven of the index’s eleven major sectors were higher, led by the industrials sector that rose 0.7 percent.
* Boosting the industrials were shares of civil aviation training provider CAE Inc, which rose 1.6 percent after posting first-quarter results.
* The Canadian dollar weakened to a more than two-week low against the greenback as oil prices fell and the U.S. Dollar broadly climbed.
* Mexican Economy Minister Ildefonso Guajardo said there is about a 40 percent chance of concluding the renegotiation of NAFTA before the country’s presidential election on July 1.
* On the TSX, 122 issues were higher, while 119 issues declined for a 1.03-to-1 ratio favoring gainers, with 21.00 million shares traded.
* The largest percentage gainers on the TSX were CAE Inc and Endeavour Mining.
* Computer Modelling Group fell 0.7 percent, the most on the main index after IA Securities cut the stock’s rating to “hold” from “buy”.
* The second biggest decliner on TSX was MEG Energy Corp down 0.5 percent.
* The most heavily traded shares by volume were Neovasc Inc , Nemaska Lithium and Crescent Point Energy Corp.
* The TSX posted seven new 52-week highs and one new low.
* Across all Canadian issues there were 13 new 52-week highs and seven new lows, with total volume of 41.74 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur)
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