January 27, 2017 / 3:51 PM / 8 months ago

CANADA STOCKS-TSX lower as resource stocks weigh; Celestica shines

(Adds details on specific stocks, updates prices)

* TSX down fell 29.55 points, or 0.19 percent, to 15,585.97

* Seven of TSX’s 10 main groups move lower

TORONTO, Jan 27 (Reuters) - Canada’s main stock index slipped on Friday as some heavyweight natural resource stocks weighed, while electronics manufacturer Celestica Inc jumped to a 12-year high.

Celestica surged 9.6 percent to C$18.30 after its adjusted earnings beat expectations and it said it would exit the oversupplied solar panel manufacturing market.

The energy group retreated 0.6 percent as oil prices slipped on an increased focus on U.S. production increases that could lessen the impact of an OPEC agreement to reduce supply.

TransCanada Corp fell 0.8 percent to C$63.03 as the country’s energy regulator said it would restart from the beginning a hearing into the company’s proposed Energy East pipeline.

Fellow pipeline operator Enbridge Inc declined 0.6 percent to C$57.73 after announcing it would pay about $170 million to take private Midcoast Energy Partners LP.

At 10:25 a.m. ET (1525 GMT), the Toronto Stock Exchange’s S&P/TSX composite index fell 29.55 points, or 0.19 percent, to 15,585.97.

The index was heading for a 0.6 percent gain on the week and is within striking distance of an all-time high hit in 2014.

Rogers Communications extended a rally to its highest level since August as investors cheered Thursday’s results that suggested its turnaround was on track. It advanced 1.6 percent to C$56.91.

Restaurant Brands International Inc advanced 0.2 percent to C$64.75. The company said it would expand its coffee and doughnut chain, Tim Hortons, into Mexico.

The financials group remain unchanged.

Industrials rose 0.3 percent, although plane and train maker Bombardier Inc fell 1.2 percent to C$2.54 as Brazil said Canada had signaled a willingness to negotiate to resolve a feud over government support that threatens to turn into an international trade dispute.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.2 percent.

Potash Corp and Agrium Inc both fell 1.1 percent. The companies, which plan to merge by mid-2017 to cut costs, are struggling with the deepest slump in a decade for the oversupplied potash fertilizer market.

Seven of the index’s 10 main groups were in negative territory, while decliners outnumbers gainers by a 1.4-to-1 ratio overall. (Reporting by Alastair Sharp; Editing by Paul Simao)

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