(Adds details on specific stocks, updates prices)
* TSX down 27.16 points, or 0.18 percent, at 15,442.75
* Six of TSX's 10 main groups fall; energy down 1.7 percent
* Index gains 0.17 percent on week
By Solarina Ho
TORONTO, June 2 Canada's main stock index fell
on Friday, dragged lower by weakness in energy stocks as oil
prices fell and a modest dip in heavyweight financial shares
after U.S. jobs growth came in below expectations.
The Toronto Stock Exchange's S&P/TSX composite index
close 27.16 points down, or 0.18 percent, at
15,442.75. Of the index's 10 main industry groups, six were in
The index gained 0.17 percent on the week.
"Just about everything here is hitting a rough patch," said
John Kinsey, portfolio manager at Caldwell Securities Ltd. "We
may be hitting the summer doldrums a little early."
The energy group gave up 1.7 percent, as oil prices fell on
concerns that U.S. drilling could accelerate after President
Donald Trump's decision to abandon the Paris climate pact,
exacerbating a persistent global glut.
Cenovus Energy Inc fell 5.3 percent to C$11.61 and
was the most influential drag on the index.
Cardinal Energy Ltd sank 8 percent to C$5.31 after
agreeing to buy Canadian light oil assets from Apache Corp for
C$330 million ($244 million) in cash.
The financials group slipped 0.1 percent, weighed down most
heavily by insurers as a smaller-than-forecast increase in U.S.
payrolls growth in May pushed bond yields lower.
Manulife Financial Corp pared earlier losses, but
still ended 1 percent lower at C$23.58. Rival Sun Life Financial
Inc slipped 0.9 percent to C$44.28.
Kinsey said lingering concerns over the Canadian housing
market also factored into the group's performance. Financial
stocks have retreated about 7 percent since hitting 2017 highs.
Canadian exports climbed to a record in April and
first-quarter labor productivity approached a three-year high,
data showed, offering further evidence the domestic economy is
recovering after a long slump caused by low oil prices.
On the upside, Bombardier Inc shares jumped to a
near four-month high, rising 3.6 percent to C$2.56. The plane
and train maker was the most shorted stock on the TSX as of May
15, though some of the short positions have recently been
covered, TMX data showed.
Canada Goose surged 15.8 percent to C$29.17 after
the maker of expensive winter jackets reported a
smaller-than-expected quarterly loss in its first earnings
report as a publicly listed company.
Asanko Gold Inc pared earlier gains but still
finished up 5 percent to C$2.12, as it recovered some of its
sharp losses since the release of a short-seller report this
($1 = 1.3520 Canadian dollars)
(Reporting by Solarina Ho and Alastair Sharp; Editing by Paul
Simao and James Dalgleish)