* TSX down 27.2 points, or 0.18 percent, at 15,048.24
* Eight of the TSX's 10 main groups were lower
TORONTO Nov 28 Canada's main stock index fell
on Monday as railroad, energy and financial names lost ground,
offsetting gains for the materials group as base and precious
metals prices rose.
At 10:53 a.m. EST (1553 GMT), the Toronto Stock Exchange's
S&P/TSX composite index fell 27.2 points, or 0.18
percent, to 15,048.24.
Last week, the index advanced 1.4 percent, extending its
rally since the U.S. election.
The most influential movers on the index included railroad
stocks, with Canadian National Railway Co falling 0.9
percent to C$89.37, and Canadian Pacific Railway Ltd
declining 1.3 percent to C$199.33.
The energy group fell 0.5 percent amid volatility in crude
oil ahead of a meeting this week of major oil producers.
U.S. crude prices were up 2.1 percent at $47.03 a
barrel, recouping earlier losses as the market reacted to the
shaky prospect of the Organization of the Petroleum Exporting
Countries being able to agree output cuts at a meeting on
Financials fell 0.3 percent as bond yields declined and
investors awaited fourth-quarter results this week from some of
Canada's major banks.
Sun Life Financial Inc fell 1.1 percent to C$52.48,
while Bank of Nova Scotia was down 0.2 percent at
The recent surge in bond yields had supported the financial
sector. Higher bond yields reduce the value of insurance
companies' liabilities and increase net interest margins of
Just two of the index's 10 main groups rose.
The materials group, which includes precious and base metals
miners and fertilizer companies, added nearly 1 percent, with
Barrick Gold Corp gaining 1.2 percent to C$20.25 and
Teck Resources Ltd climbing 1.6 percent to C$35.41.
Zinc soared to a nine-year high and lead hit a five-year
peak as reports of more infrastructure investment in China and
signs of strong property investment in the world's top metals
user sparked heavy buying.
Copper prices advanced 1.1 percent to $5,942 a
tonne, while gold futures rose 0.9 percent to $1,189.2 an
(Reporting by Fergal Smith; Editing by Bernadette Baum)