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CANADA STOCKS-TSX falls, dragged by energy; on track for weekly loss

Published 2016-07-29, 10:33 a/m
© Reuters.  CANADA STOCKS-TSX falls, dragged by energy; on track for weekly loss
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(Adds details on energy earnings, data; updates prices)

* TSX down 44.95 points, or 0.31 percent, 14,507.77

* Nine of the TSX's 10 main groups fall

* Index on track for 0.6 pct fall on week

TORONTO, July 29 (Reuters) - Canada's main stock index fell on Friday as economic data and energy earnings highlighted the damage done by a massive wildfire that hit oil sands production starting in May, with the index headed for its first weekly decline since mid-June.

Among the most influential decliners were pipeline operator Enbridge ENB.TO , which fell 0.5 percent to C$51.17, and Imperial Oil Ltd IMO.TO , which lost 1.2 percent to C$39.90.

Both companies reported earnings that were negatively impacted by massive wildfires in northern Alberta, which at one point cut Canada's crude output by more than a million barrels a day. sharp drop in oil extraction after some producers shut down for weeks hit overall economic growth in May, which notched its biggest monthly decline since March 2009, data from Statistics Canada showed. 10:18 a.m. EDT (1418 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 44.95 points, or 0.31 percent, at 14,507.77.

It is on track for a 0.6 percent weekly decline, after four straight weeks of gains.

The energy group retreated 0.9 percent. Canada's largest oil and gas producer Suncor Energy fell 1.2 percent to C$34.78. It reported a loss earlier this week. materials group, which includes precious and base metals miners and fertilizer companies, added 0.4 percent as gold prices steadied after the Bank of Japan modestly expanded its monetary stimulus. GOL/ Gold Corp ABX.TO added 1.4 percent to C$28.43 and Goldcorp Inc G.TO gained 0.8 percent to C$23.55.

The index's nine other main groups were all in negative territory, although decliners were only outnumbering gainers by a 1.5-to-1 ratio.

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