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CANADA STOCKS-TSX falls in broad retreat, led by resource stocks

Published 2017-01-06, 10:11 a/m
© Reuters.  CANADA STOCKS-TSX falls in broad retreat, led by resource stocks
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(Adds details on specific stocks, updates prices)

* TSX down 61.85 points, or 0.4 percent, at 15,524.73

* All of the TSX's 10 main groups move lower

TORONTO, Jan 6 (Reuters) - Canada's main stock index fell in early trading on Friday, with gold miners and other materials stocks leading a broad retreat from the three-day rally that started the year.

At 9:42 a.m. ET (1442 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 61.85 points, or 0.4 percent, at 15,524.73 despite booming jobs and trade data.

All of the index's 10 main groups were in negative territory, with four declining issues for every gainer.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.3 percent.

The composite index had made sharp gains in the first three sessions of the year, taking it within striking distance of an all-time high, and it remained on track for a 1.6 percent rise over the course of the shortened week.

The most influential weights on the index included Tahoe Resources Inc THO.TO , which fell 8.7 percent to C$13.52 after the miner forecast 2017 capital spending above estimates, analysts said. Tahoe also said it expected flat gold production in 2017 and lower silver output, lagging consensus expectations.

Fertilizer company Potash Corp POT.TO declined 1.1 percent to C$24.56, while diversified miner Teck Resources Ltd TECKb.TO lost 1.6 percent to C$28.13.

The energy group retreated 0.5 percent as oil prices were little changed. The financials group and industrial both slipped 0.3 percent.

Gold futures GCc1 fell 0.6 percent to $1,172.2 an ounce, while copper prices CMCU3 declined 0.6 percent to $5,547.5 a tonne. GOL/ MET/L

The economy unexpectedly added 53,700 jobs last month, data from Statistics Canada showed. report showed Canada posted an unexpected trade surplus of C$526 million in November, its first in more than two years.

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