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CANADA STOCKS-TSX down as lower oil prices weigh on energy stocks

Published 2017-06-02, 11:02 a/m
© Reuters.  CANADA STOCKS-TSX down as lower oil prices weigh on energy stocks

(Adds details on specific stocks, updates prices)

* TSX down 41.63 points, or 0.27 percent, at 15,428.28

* Six of TSX's 10 main groups fall; energy down 2 percent

* Index on track for 0.1 percent gain on week

TORONTO, June 2 (Reuters) - Canada's main stock index fell on Friday, weighed by weakness in energy stocks due to lower oil prices and a drop in heavyweight financial shares after U.S. jobs growth came in below expectations.

At 10:21 a.m. ET (1421 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 41.63 points, or 0.27 percent, at 15,428.28. Six of the index's 10 main groups were in negative territory.

The index is on track for a 0.1 percent gain on the week.

The energy group retreated 2 percent, as oil prices fell on concerns that U.S. President Donald Trump's decision to abandon the Paris climate pact would spark more U.S. drilling that would exacerbate a global glut. O/R

Suncor Energy Inc SU.TO declined 1.3 percent to C$41.76 and Cenovus Energy Inc CVE.TO fell 3.6 percent to C$11.82.

Cardinal Energy Ltd CJ.TO shed 7.6 percent to C$5.33 after agreeing to buy Canadian light oil assets from Apache Corp (NYSE:APA) for C$330 million ($244 million) in cash. financials group slipped 0.3 percent, weighed most heavily by insurers as a smaller-than-forecast increase in U.S. payrolls growth in May pushed bond yields lower. Financial Corp MFC.TO declined 1.9 percent to C$23.36 and its rival Sun Life Financial Inc SLF.TO declined 1.1 percent to C$44.21.

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Canadian exports climbed to a record in April and first-quarter labor productivity approached a three-year high, data showed, offering further evidence the domestic economy is recovering after a long slump caused by low oil prices. Goose GOOS.TO jumped 9.8 percent to C$27.68 after the maker of expensive winter jackets reported a smaller-than-expected quarterly loss in its first earnings report as a publicly listed company. Gold Inc AKG.TO rose 9.9 percent to C$2.22, recovering some of its sharp losses since the release of a short-seller report this week = 1.3520 Canadian dollars)

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