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CANADA STOCKS-TSX slips as energy stocks fall, gold miners shine

Published 2017-02-06, 04:47 p/m
CANADA STOCKS-TSX slips as energy stocks fall, gold miners shine
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(Adds portfolio manager comment, updates prices to close)

* TSX ends down 19.45 points, or 0.13 percent, at 15,456.94

* Seven of TSX's 10 main groups move lower; energy falls 2.2 pct

By Alastair Sharp

TORONTO, Feb 6 (Reuters) - Canada's main stock index ended lower on Monday, as heavyweight energy stocks weighed with a fall in oil prices, while gold miners caught a boost from bullion jumping to its highest in nearly three months on political uncertainty.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE settled down 19.45 points, or 0.13 percent, at 15,456.94, with seven of its 10 main groups lower.

"Uncertainty is still the rule of the day," said Bryden Teich, portfolio manager at Avenue Investment Management, adding that "cautious optimism about a stronger U.S. economy" is mixed with worry about trade disruption as U.S. President Donald Trump threatens to impose tariffs and border tax adjustments.

Gold XAU= climbed to its highest in nearly three months as worries about the political landscape in the United States and Europe and a subdued dollar reinforced investor interest in the precious metal. GOL/

Among the Toronto index's most influential gainers were the biggest members of its sizable gold mining group, with Barrick Gold ABX.TO jumping 3 percent to C$25.40 and Goldcorp Inc G.TO up 3.7 percent at C$21.99.

The index's materials group, which includes precious and base metals miners and fertilizer companies, surged 2.5 percent, while on the other side of the ledger the energy group slumped 2.2 percent, as oil prices CLc1 LCOc1 fell with ample U.S. supplies and excess speculative length outweighing OPEC output curbs and rising tensions between the United States and Iran. O/R

Major producer Canadian Natural Resources Ltd CNQ.TO fell 2.5 percent to C$38.92, while Enbridge Inc ENB.TO lost 1.3 percent to C$56.33 and fellow pipeline company TransCanada TRP.TO shed 1 percent to C$61.85.

Declining stocks outnumbered advancers by a 1.3-to-1 ratio.

Pharmaceutical company Prometic Life Sciences Inc PLI.TO advanced 1.9 percent to C$2.14 after it said California Capital Equity LLC had exercised share purchase warrants in the company as it prepares for its first commercial launch in 2017. trade data for December is due on Tuesday, after Canada achieved its first trade surplus in more than two years in November, while jobs data for January is due on Friday. ECONCA

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