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CANADA STOCKS-TSX closes lower as falling oil, metal prices weigh

Published 2018-02-07, 04:35 p/m
© Reuters.  CANADA STOCKS-TSX closes lower as falling oil, metal prices weigh
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By Nichola Saminather

Feb 7 (Reuters) - Canada's main stock index closed lower on Wednesday, dragged down by energy companies and miners as oil and metal prices dropped.

* The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE slipped 33.35 points, or 0.22 percent, to 15,330.58.

* Gold and silver-mining company Klondex Mines KDX.TO was the biggest decliner on the index, closing down 7.1 percent after Royal Bank of Canada and Bank of Montreal cut their target price for the stock.

* Gold prices XAU= fell as much as 1 percent to $1,311.66 an ounce, and were trading at $1,316.62 as of 4:17 p.m. EST (2117 GMT).

* Energy company Paramount Resources was the second-biggest decliner, with a 6.7 percent drop, followed by copper miner Hudbay Minerals HBM.TO , which lost 5.4 percent.

* U.S. crude CLc1 hit a one-month low, falling as much as 3.4 percent to $61.25 a barrel; Brent slid as much as 2.5 percent to $65.16, a six-week low.

* Copper futures CMCU3 dropped 2.8 percent to $6,880.05 a tonne.

* Torex Gold TXG.TO bucked the downtrend in metals producers to be the best performer on the index, with a 5.2 percent gain. The company said it had completed financing to restart its ELG Mine Complex in Mexico. Sleep Country Canada ZZZ.TO was the second-biggest gainer, up 5 percent, after Laurentian Securities initiated coverage with a "buy" rating.

* Marijuana producer Canopy Growth Corp WEED.TO and Bombardier Inc BBDb.TO were the most actively traded stocks on the index.

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* There were 124 advancing stocks and 122 declining ones on the index; four were flat.

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