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CANADA STOCKS-TSX falls as banks, natural resource companies weigh

Published 2016-08-16, 11:26 a/m
© Reuters.  CANADA STOCKS-TSX falls as banks, natural resource companies weigh

(Updates prices)

* TSX down 59.53 points, or 0.4 percent, to 14,717.49

* Eight of the TSX's 10 main groups move lower

TORONTO, Aug 16 (Reuters) - Canada's main stock index fell on Tuesday, dragged lower by some mining and energy companies despite the advance of gold and global oil prices.

At 11:04 a.m EDT (1504 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE fell 59.53 points, or 0.4 percent, to 14,717.49, reflecting the decline of U.S. stocks on Wall Street. .N

Eight of the TSX's main 10 groups were in negative territory.

Among the biggest drivers of the fall were a major gold miner, some of the country's biggest banks and a few major energy companies.

Barrick Gold Corp ABX.TO fell 2.3 percent to C$27.16, while oil and natural gas producer Canadian Natural Resources Ltd CNQ.TO lost 0.9 percent to C$41.58.

The financials group slipped 0.4 percent, with Bank of Nova Scotia BNS.TO down 0.6 percent at C$66.43 and Bank of Montreal BMO.TO off 0.7 percent at C$83.44. Financials account for more than a third of the index's weight.

The energy group retreated 0.3 percent, with pipeline operator TransCanada Corp TRP.TO down 1.3 percent to C$61.49 and rival Enbridge Inc ENB.TO slipping 1.3 percent to C$53.26.

U.S. crude oil futures CLc1 were up 0.4 percent and gold prices XAU= traded 0.6 percent higher, paring gains after mixed U.S. economic data muddied the waters on when the U.S. Federal Reserve may move to raise interest rates. O/R GOL/

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On the stock exchange in Toronto, the materials group, which includes precious and base metals miners as well as fertilizer companies, lost 0.6 percent.

Avigilon Corp AVO.TO , which sells video surveillance cameras, slumped 24.8 percent to C$10.04 after a string of analysts lowered their views on the stock after its quarterly results. in Alimentation Couche-Tard Inc ATDb.TO rose 2.6 percent to C$61.65. The convenience store operator is in the lead to acquire U.S.-based CST Brands Inc CST.N , according to two sources familiar with the matter. manufacturing sales rose in June to recover much of the previous month's decline, led by gains in machinery and transportation equipment sales, data showed on Tuesday.

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