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CANADA STOCKS-Miners lead TSX retreat; index still up 1.4 pct on week

Published 2017-01-06, 04:30 p/m
© Reuters.  CANADA STOCKS-Miners lead TSX retreat; index still up 1.4 pct on week
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* TSX down 90.53 points, or 0.58 percent, at 15,496.05

* Eight of the TSX's 10 main groups end lower

By Alastair Sharp

TORONTO, Jan 6 (Reuters) - Canada's main stock index fell on Friday, with gold miners and other materials stocks leading a broad retreat from a three-day rally that saw the index approach an all-time high to start the year.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended the day down 90.53 points, or 0.58 percent, at 15,496.05 despite booming jobs and trade data.

"We had a couple of good days before this so there's some money getting taken back off the table as there's some uncertainty about the numbers," said Sadiq Adatia, chief investment officer at Sun Life Global Investments.

For the holiday-shortened week, the index notched a 1.4 percent gain.

The economy unexpectedly added 53,700 jobs last month, data from Statistics Canada showed, but analysts and investors pointed to a history of volatility as a reason stocks and the currency responded in muted fashion. CAD/

Another report showed Canada posted an unexpected trade surplus in November, its first in more than two years. of the index's 10 main groups finished in negative territory, with three declining issues for every gainer.

"What we're seeing is what we'll see more of this year, these ups and downs," said Adatia, who added he was neutral on Canada for this year compared with a more negative view last year.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 2.9 percent. Gold futures GCc1 fell 0.7 percent to $1,172 an ounce. GOL/

The most influential weights on the index included Tahoe Resources Inc THO.TO , which fell 14 percent to C$12.73 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 1.6 percent to C$24.43, while diversified miner Teck Resources Ltd TECKb.TO lost 2.6 percent to C$27.84.

The energy group retreated 0.4 percent as oil prices were little changed. The heavyweight financials group slipped 0.2 percent, and consumer staples fell 0.7 percent. Consumer discretionary stocks were the only group to gain, up 0.1 percent, while technology stocks were flat.

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