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6 个月前
CANADA STOCKS-TSX retreats from record high as commodity prices fall
2017年2月17日 / 下午4点30分 / 6 个月前

CANADA STOCKS-TSX retreats from record high as commodity prices fall

(New throughout, updates prices and market activity, adds details on stocks and sectors)

* TSX falls 27.11 points, or 0.17 percent, to 15,837.06

* Six of the TSX's 10 main groups retreat

TORONTO, Feb 17 (Reuters) - Canada's main stock index fell on Friday, heading for its first decline in nine days as it pulled back from the previous day's record high, pressured by losses for resource shares as oil and copper prices fell.

Losses for the Toronto Stock Exchange's S&P/TSX composite index came as concerns over the French election and weak data in Britain weighed on global stocks, while investors looked for clarity on U.S. President Donald Trump's policies on tax and trade.

Fairfax Financial Holdings Ltd fell more than 3 percent to C$611.00. On Thursday, the company reported a 27.5 percent slump in revenue, weighed down by losses from cuts to equity hedges following the U.S. presidential election.

Shares of Enbridge Inc fell nearly 1 percent to C$54.90. Canada's largest pipeline company, reported a smaller-than-expected quarterly profit as expenses jumped and the company said its deal to buy Spectra Energy Corp was on track to close this quarter.

The overall financials group dipped 0.1 percent as bond yields fell and the energy group lost 0.4 percent, pressured by lower oil prices.

U.S. crude prices were down 0.8 percent to $52.94 a barrel as investor concerns about growing global stocks weighed.

At 10:59 a.m. ET (1559 GMT), the TSX fell 27.11 points, or 0.17 percent, to 15,837.06.

For the week, the index was on track to gain 0.7 percent.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.8 percent, with First Quantum Minerals slumping nearly 7 percent to C$14.78 after reporting fourth quarter results on Thursday.

Copper prices declined 0.6 percent to $5,967 a tonne and gold futures rose 0.1 percent to $1,240.9 an ounce.

Air Canada reported a bigger quarterly loss and said it expected its margins to halve in the current quarter from a year ago, as fuel costs inch up with the rise in oil prices.

Its shares fell 6.7 percent to C$13.44.

Six of the index's 10 main groups were lower. Among those groups that gained, telecoms rose 0.3 percent, while consumer discretionary advanced 0.6 percent, helped by a 2.4 percent gain for Canadian Tire Corporation Ltd to C$158.21.

Some analysts raised their target price on Canadian Tire's stock after the company reported strong fourth quarter and full year results on Thursday. (Reporting by Fergal Smith; Editing by David Gregorio)

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