(Adds portfolio manager comment, updates prices to close)
* TSX ends down 61.42 points, or 0.42 percent, to 14,558.04
* Two decliners for every rising stock
By Alastair Sharp
TORONTO, Sept 27 (Reuters) - Energy and mining stocks dragged Canada's main stock index lower on Tuesday, cancelling out a modest relief rally elsewhere from a perceived win for Democrat Hillary Clinton in a U.S. presidential debate.
The index's heavyweight energy group retreated 1.8 percent, with Canadian Natural Resources Ltd CNQ.TO down 1.5 percent to C$38.50 and Suncor Energy Inc SU.TO off 1.4 percent at C$34.18.
Oil fell about 3 percent after Saudi Arabia and Iran dashed market hopes that the two major OPEC producers would find a compromise this week at meeting in Algiers to help ease a global glut of crude. O/R
"People were hoping that OPEC would come to some conclusion to rake prices higher, but as usual in recent years OPEC hasn't been able to come to any decision because there is always someone who disagrees," said Norman Levine, managing director at Portfolio Management Corp.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE settled down 61.42 points, or 0.42 percent, at 14,558.04.
The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.5 percent.
Gold prices slipped as the U.S. dollar and Wall Street stocks gained ground on the view that U.S. presidential candidate Hillary Clinton got the better of rival Donald Trump in their first debate. GOL/ .N
Barrick Gold Corp ABX.TO fell 2.2 percent to C$23.20. Smaller producer B2Gold Corp BTO.TO fell 11.8 percent to
C$3.38.
The TSX-listed shares of Australia-based OceanaGold Corp OGC.TO fell 14 percent to C$4.05 as it faced a suspension of operations in the Philippines. the index's 10 main groups, four fell, four rose, and two ended unchanged. There were two decliners for every gainer.
On the positive side, Fairfax Financial Holdings Ltd FFH.TO rose 2.4 percent to C$759.85 and Valeant Pharmaceuticals International Inc (NYSE:VRX) VRX.TO advanced 1.2 percent to C$34.67. Valeant had slipped ahead of Monday night's presidential debate.