(Adds portfolio manager comments, details on gold stocks,
Valeant, financial sector stocks, Loblaw Companies, updates
prices)
* TSX ended down 3.06 points, or 0.02 percent, to 13,668.29
* Just three of the TSX's 10 main groups ended lower
By Fergal Smith
TORONTO, April 14 (Reuters) - Canada's main stock index fell
slightly on Thursday as lower commodity prices weighed on energy
and mining stocks, while financial sector stocks rose.
The index has rallied 18.5 percent since hitting an almost
3-1/2-year low in January. On Wednesday, it touched its highest
in five months at 13,703.61.
The materials group, which includes precious and base metals
miners and fertilizer companies, lost 2.7 percent.
"The big story today is just the pullback in the gold
stocks," said Patrick Blais, senior portfolio manager at
Manulife Asset Management.
Barrick Gold Corp ABX.TO fell 3.7 percent to C$19.81,
while Goldcorp Inc G.TO was also down 3.7 percent at C$21.31.
Spot gold XAU= fell 1.4 percent as the U.S. dollar rose
for the third straight day and world stocks climbed to 2016
highs. GOL/
Fertilizer producers also dragged, including a 5.3 percent
drop in Agrium Inc AGU.TO to C$107.02 and a 2.4 percent
decline in Potash Corp POT.TO to C$20.86 after several
analysts downgraded their views on the stocks.
The energy group retreated 0.5 percent as oil prices fell
amid skepticism that an upcoming meeting of major producers
would do much to tighten the supply demand balance. O/R
U.S. crude CLc1 prices settled at $41.50 a barrel, down
0.62 percent.
Shaw Communications Inc SJRb.TO declined 3.2 percent to
C$23.54. The company posted a 3 percent rise in quarterly
revenue as it added more retail Internet customers.
Valeant Pharmaceuticals International Inc (NYSE:VRX) VRX.TO fell 1.8
percent to C$41.66. Standard & Poor's downgraded its corporate
credit rating after the drugmaker got a notice of default from
bondholders as a result of a delay in filing its annual report.
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE closed down 3.06 points, or 0.02 percent, to
13,668.29. Just three of the index's 10 main groups ended lower.
Financial sector stocks gained 0.7 percent, including a 0.9
percent rise in the shares of Toronto-Dominion Bank TD.TO to
C$55.75.
The group moved higher in concert with U.S. financials after
U.S. bank earnings were not as bad as feared, according to
Blais.
Loblaw Companies Ltd L.TO rose near 2 percent to C$70.63.
Blais expects the stock to deliver good earnings growth and
returns.
Bombardier Inc BBDb.TO jumped near 7 percent to C$1.53 on
speculation of a pending order for its aircraft.