March 18, 2016 / 2:39 PM / 2 years ago

CANADA STOCKS-TSX falls as resource stocks pull back

* TSX down 30.98 points, or 0.23 percent, at 13,590.32

* Seven of the TSX’s 10 main groups fall

TORONTO, March 18 (Reuters) - Canada’s main stock index slipped on Friday, with a pullback in resource stocks as well as slips in telecom and consumer staples names offsetting modest gains for industrial stocks.

Still, the index was on track for a 0.5 percent gain on the week, its third straight weekly gain, helped by rising oil prices.

Canadian Pacific Railway was among the most influential gainers in morning trade, rising 2.4 percent to C$173.23, while convenience store operator Alimentation Couche-Tard declined 2.2 percent to C$57.61.

TransCanada Corp fell 1.3 percent to C$48.77 after the company said it will buy Columbia Pipeline Group for $10.2 billion, creating one of North America’s largest regulated natural gas transmission businesses.

The broader energy group slipped 0.4 percent even as oil prices kept pushing higher.

At 10:12 a.m. EDT (1412 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 30.98 points, or 0.23 percent, at 13,590.32.

Seven of the index’s 10 main groups were in negative territory, although advancers slightly outnumbered decliners.

The heavyweight financials group slipped 0.1 percent, while telecoms fell 0.6 percent and consumer staples lost 1.2 percent. The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.5 percent.

Industrials rose 0.6 percent.

U.S. crude prices were up 1.9 percent to $40.96 a barrel, while Brent crude added 2.0 percent to $42.36.

Canadian retail sales rebounded strongly in January, while separate data showed a slowdown in the annual inflation rate in February, weighed by a drop in gasoline prices. (Reporting by Alastair Sharp; Editing by James Dalgleish)

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