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CANADA STOCKS-TSX slips as miners, tech stocks weigh; RBC up on earnings report

Published 2017-11-29, 04:41 p/m
© Reuters.  CANADA STOCKS-TSX slips as miners, tech stocks weigh; RBC up on earnings report
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* TSX ends down 61.92 points, or 0.39 percent, at 15,967.72.

* Seven of the TSX's 10 main groups move lower

By Alastair Sharp

TORONTO, Nov 29 (Reuters) - Canada's main stock index ended lower on Wednesday, hurt by losses among miners with weaker copper and gold prices, a pullback in technology stocks led by Shopify Inc SHOP.TO and a fall in shares of Canadian National Railway Co CNR.TO .

Better-than-expected quarterly earnings boosted Royal Bank of Canada RY.TO , the country's largest bank by market value, while several other heavyweight financial stocks also gained. The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended down 61.92 points, or 0.39 percent, at 15,967.72. Seven of the index's 10 main sectors finished lower, with three decliners for every two advancers overall.

* CN Rail fell as much as 4.9 percent, to its lowest level since March, before recovering somewhat to end down 1.8 percent at C$98.20. That was its worst one-day fall since July 26.

* CN Rail's chief financial officer said its fourth quarter may be a "bit more difficult" because of an early winter and a couple of derailments. Royal Bank of Canada RY.TO gained 0.9 percent to C$101.38, while the overall financial sector rose 0.4 percent.

* Shopify Inc SHOP.TO fell 7 percent to C$133.40, erasing gains the e-commerce software company's stock had made after the Black Friday and Cyber Monday shopping days. The technology group fell 2.6 percent overall.

* The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.3 percent as prices for gold as well as copper, aluminum and other base metals fell. GOL/ MET/L

* Potash Corp POT.TO added 0.6 percent to C$25.08 after its chief executive said he expects a "very tight" balance of potash supply and demand in 2018 and that the company had received "broad interest" from Chinese buyers interested in its stake in a Chilean lithium producer.

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