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CANADA STOCKS-TSX down 1 pct, retreat led by resource stocks

Published 2016-09-09, 10:58 a/m
© Reuters.  CANADA STOCKS-TSX down 1 pct, retreat led by resource stocks
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(Adds details on stocks and sectors, updates prices)

* TSX down 151.78 points, or 1.03 percent, to 14,651.48

* All of the TSX's 10 main groups fall

TORONTO, Sept 9 (Reuters) - Canada's main stock index slumped 1 percent on Friday in a broad retreat led by sharp losses for resource stocks as oil and gold prices fell, with a North Korean nuclear blast and hawkish talk from a U.S. Federal Reserve official weighing.

Falling stocks were outnumbering advancers by more than 8-to-1, and the index was heading for a 0.7 percent slip on the holiday-shortened week.

One of the most influential movers on the index was Crescent Point Energy Corp CPG.TO , which fell 8.2 percent to C$18.59 after announcing a plan to raise C$650 million by issuing more shares and a C$600 million hike in its capital spending plans. 10:50 a.m. EDT (1450 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 151.78 points, or 1.03 percent, to 14,651.48.

The energy group retreated 1.8 percent as oil prices fell more than 2 percent. company Enbridge Inc ENB.TO pulled back 1.8 percent to C$58.04 following days of sharp gains after announcing a major takeover.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 2.2 percent.

Barrick Gold ABX.TO lost 2.9 percent to C$23.15, as the price of gold slipped, while Goldcorp Inc G.TO declined 2.1 percent to C$20.92. Goldcorp has hired Bank of Nova Scotia to help it sell a gold and silver mine in Mexico, sources said. Korea conducted its fifth and biggest nuclear test on Friday and said it had mastered the ability to mount a warhead on a ballistic missile. a top Fed official said the U.S. central bank increasingly faces risks if it waits too much longer to tighten monetary policy. financials group slipped 0.1 percent, with Manulife Financial Corp MFC.TO advancing 1.6 percent to C$18.21.

The CEO of the country's biggest life insurer said on Thursday that Manulife would consider share buybacks and expected a pause in acquisitions. fell 0.8 percent.

U.S. crude CLc1 prices were down 2.5 percent to $46.43 a barrel, while Brent LCOc1 lost 2.5 percent to $48.73. prices CMCU3 declined 0.7 percent to $4,633 a tonne. MET/L

Canada created more jobs than expected in August on increased hiring in the construction and services sectors, but the gains did not fully make up for recent declines in employment, pointing to a labor market that was struggling to gain momentum.

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