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CANADA STOCKS-TSX hits 5-month low as commodity prices fall, jobs decline

Published 2018-02-09, 11:17 a/m
© Reuters.  CANADA STOCKS-TSX hits 5-month low as commodity prices fall, jobs decline
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TORONTO, Feb 9 (Reuters) - Canada's main stock index fell to a five-month low on Friday, led lower by financial and materials shares as commodity prices fell and domestic data showed the economy lost the most jobs in nine years.

* The 88,000-job decrease fell well short of economists' forecasts for a gain of 10,000 and was the biggest decline since January 2009 when the economy was dealing with the global financial crisis, Statistics Canada said. At 10:55 a.m. EST (15:55 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE fell 89.01 points, or 0.59 percent, to 14,976.60. It touched its lowest intraday since Aug. 29 at 14,942.75.

* The largest percentage decliner was Sierra Wireless Inc SW.TO , down 15.7 percent, after the company reported a fourth-quarter loss after the bell on Thursday.

* The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.2 percent.

West Fraser Timber Co Ltd WFT.TO fell 2.3 percent to C$80.31 and Franco-Nevada Corp FNV.TO was down 1.3 percent at C$87.07.

* Gold futures GCc1 fell 0.2 percent to $1,314.3 an ounce and copper prices CMCU3 declined 1.3 percent to $6,754 a tonne. GOL/ MET/L

* Financials, which account for more than one-third of the weight of the TSX, declined 0.7 percent. Industrials were down 0.4 percent as railroad shares lost ground.

* The energy group fell 0.6 percent as the price of U.S. crude oil CLc1 fell below $60 for the first time since December. O/R

* The TSX posted no new 52-week highs and 27 new lows. Nine of the index's 10 main groups were lower.

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* Among the most active Canadian stocks by volume were Aurora Cannabis ACB.TO , down 4.3 percent to $C10.67, and Klondex Mines KDX.TO , down 4.3 percent to $C2.03.

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