(Adds portfolio manager quotes, updates prices)
* TSX down 56.95 points, or 0.42 percent, to 13,368.24
* Four of the TSX's 10 main groups lower
By Fergal Smith
TORONTO, Nov 27 (Reuters) - Canada's main stock index closed
lower on Friday, driven by weakness in resource shares after a
plunge in China equities weighed on commodity prices.
Trading was thin, with Wall Street closing early following
Thursday's holiday.
"It's commodities again, generally, that are hurting the
Toronto market and they will continue to do so until their
prices bottom," said Norman Levine, managing director at
Portfolio Management Corp.
The energy sector fell 1.4 percent, pressured by a 3 percent
tumble in U.S. crude oil prices.
Canadian Natural Resources Ltd CNQ.TO fell 2.8 percent to
C$31.77, while Cenovus Energy Inc CVE.TO was down 1.6 percent
at C$19.47.
The materials group dropped 2.1 percent, including weakness
in gold stocks as a firm U.S. dollar and a potential Federal
Reserve rate hike next month caused gold to drop to a near
six-year low.
Barrick Gold Corp ABX.TO fell 4.3 percent to C$9.47, while
Goldcorp Inc G.TO was down 2.6 percent at C$15.46.
Loblaw Companies Ltd L.TO fell 2.6 percent to C$67.52,
exposed through its subsidiary, Shoppers Drug Mart Corporation,
to a Quebec government proposal that may lower the prices of
generic drugs, according to Levine.
Valeant Pharmaceuticals International Inc (N:VRX) VRX.TO dropped
2.3 percent to C$115.22.
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE closed down 56.95 points, or 0.42 percent, at
13,368.24, with just four of the index's 10 main groups in
negative territory.
For the week, the index was down 0.49 percent, entering a
consolidation pattern after probing above the 13,500 threshold
intraday last Friday.
Financials firmed 0.1 percent, with the market awaiting bank
earnings reports next week.
"Expectations are low," said Levine, noting "the Canadian
consumer is so extended here that new loan growth is not that
visible to us."
Also helping support the index, Canadian National Railway
rose 0.5 percent to C$79.67, while Shaw Communications Inc
SJRb.TO was up 1.1 percent at C$27.47.
U.S. crude CLc1 prices settled at $41.71 a barrel, down
3.1 percent, while Brent crude LCOc1 lost 1.3 percent to
$44.87. O/R
Gold futures GCc1 fell 1.3 percent to $1,055.9 an ounce.
GOL/
Copper prices CMCU3 declined 1.4 percent to $4,572.85 a
tonne. MET/L