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CANADA STOCKS-TSX falls as energy shares offset gain in gold miners

Published 2016-06-08, 05:00 p/m
© Reuters.  CANADA STOCKS-TSX falls as energy shares offset gain in gold miners
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* TSX down 52.51 points, or 0.37 percent, at 14,313.10
* Eight of the TSX's 10 main groups fall

(Updates share prices)
OTTAWA, June 8 (Reuters) - Canada's main stock index slipped
on Wednesday as weakness in the energy sector dragged,
offsetting gains by gold mining companies benefiting from higher
bullion prices.
Gold miners .SPTTGD rose 2.2 percent to a nearly
three-week high as the U.S. dollar was hurt by declining
expectations the Federal Reserve will raise interest rates soon.
GOL/
Goldcorp G.TO increased 1.3 percent to C$23.38 and Barrick
Gold ABX.TO rose 1.5 percent to C$24.40.
The energy group .SPTTEN , which accounts for about a third
of the weighting of the TSX, retreated from gains earlier in the
session to fall 2.2 percent.
Shares of Suncor SU.TO fell 2.8 percent to C$35.47.
The sector's declines came despite a gain in oil prices as
supply disruptions sent U.S. crude CLc1 prices up 2.3 percent
to $51.52 a barrel. O/R
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE closed down 52.51 points, or 0.37 percent, at
14,313.10. Eight of the index's 10 main sectors fell.
The TSX hit a session high of 14,450.91, a level last
reached in early August. The index has gained about 6 percent in
the last four weeks as oil has rebounded to $50 a barrel.
Shares of Valeant Pharmaceuticals (NYSE:VRX) International VRX.TO
dropped 3.2 percent to C$30.46, a day after the company slashed
its 2016 outlook.
Shares of retailer Dollarama DOL.TO rose 1.9 percent to
C$94.39 after the company reported a bigger-than-expected
increase in first-quarter profit.

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