(Adds analyst comments, latest market moves)
* TSX down 119.1 points, or 0.88 percent, at 13,477.31
* Nine of the TSX's 10 main groups were lower
By Solarina Ho
TORONTO, Sept 4 (Reuters) - Canada's main stock index fell
broadly on Friday as mixed employment data provided little
clarity for investors hoping to receive more guidance ahead of
this month's central bank monetary policy meetings on both sides
of the border.
Job growth in the United States slowed in August, rising
173,000, while the unemployment rate dropped to a near
7-1/2-year low and wages accelerated. Canada unexpectedly added
12,000 new jobs last month, versus the expected decline of
4,500, but the country's unemployment rate hit 7 percent, a
one-year high.
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"At the end of the day, when you look at the data release
this morning, there isn't a clear answer and if there's one
thing the market doesn't like, it's uncertainty," said Patrick
Blais, senior portfolio manager at Manulife Asset Management.
"The market's just having trouble reading the timing of the
(Federal Reserve's) rate increase. I think that's just throwing
the market off. There's a little bit for everyone, but at the
end of the day, no one's happy."
Blais said the odds of the Bank of Canada cutting rates have
dropped heading into the meeting next week, but added that
headwinds in Canada remained fairly strong, and that the
improving trends were not sustainable.
At 11:06 a.m. EDT (1506 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was down 119.1 points, or 0.88
percent, at 13,477.31. It weakened more than 1 percent earlier,
to touch 13,445.72. Healthcare was the lone gainer among the
index's 10 most significant sectors.
The biggest drags on the index were Royal Bank of Canada
RY.TO , which fell 1.7 percent to C$70.76, and Toronto-Dominion
Bank TD.TO , which declined 1.6 percent to C$50.98.
The hefty and influential financials retreated 1.4 percent,
with seven of the top 10 losers all falling within the sector.
Despite less volatility in crude prices on Friday, energy
stocks were also performing poorly, slipping 0.8 percent.
Canadian Natural Resources CNQ.TO was down 2.9 percent at
C$27.51.
Materials, home to mining companies, gave up 1.2 percent.
In corporate news, BlackBerry Ltd BB.TO said it will buy
rival mobile software provider Good Technology Corp GDTC.O for
$425 million. Shares were up a modest 0.8 percent.
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Declining issues outnumbered advancing ones on the TSX by
179 to 64, for a 2.80-to-1 ratio on the downside.