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CANADA STOCKS-TSX down as softer commodity prices weigh on resource shares

Published 2017-06-26, 11:02 a/m
© Reuters.  CANADA STOCKS-TSX down as softer commodity prices weigh on resource shares
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* TSX down 36.41 points, or 0.24 percent, to 15,283.15

* Four of the TSX's 10 main groups fall

* Materials group down 0.9 percent, energy stocks fall 1 percent

* Valeant Pharmaceuticals up 7.1 percent

TORONTO, June 26 (Reuters) - Canada's main stock index fell on Monday as declines in heavyweight sectors such as energy and materials outweighed moderate gains in a number of other groups.

Gold miners were the most influential decliners on the index as gold prices sank to near six-week lows. Agnico Eagle Mines Ltd AEM.TO slumped 2 percent to C$62.17, while Goldcorp Inc G.TO fell 1.2 percent to C$18.07.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.9 percent. Gold futures GCc1 fell 0.9 percent to $1,245 an ounce as a large sell order hit sentiment, though losses were limited by global political uncertainty. GOL/

At 10:41 a.m. ET (1441 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE fell 36.41 points, or 0.24 percent, to 15,283.15.

Of the index's 10 main groups four were in negative territory.

The energy group gave back 1 percent, with Canadian Natural Resources Ltd CNQ.TO down 1.1 percent to C$37.38.

The group reversed earlier gains as oil prices dipped, with U.S. crude CLc1 prices down 0.4 percent to $42.83 a barrel. Crude prices still managed to hold above last week's seven-month lows, however. O/R

Financial stocks, which make up roughly a third of the index's weight, also fell, slipping 0.2 percent as some of the country's top banks lost ground.

Healthcare rallied 2.3 percent, with Valeant Pharmaceuticals International Inc (NYSE:VRX) VRX.TO surging 7.1 percent to C$22.42, and hitting its highest since Jan. 10. Shares had jumped last week after billionaire investor John Paulson joined the company's board. Ltd BB.TO rebounded 3.8 percent to C$13.35 after sharp losses on Friday following disappointing quarterly results. issues outnumbered advancing ones on the TSX by 154 to 87, for a 1.77-to-1 ratio on the downside.

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