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CANADA STOCKS-TSX slips as banks, miners weigh
April 18, 2017 / 2:39 PM / 8 months ago

CANADA STOCKS-TSX slips as banks, miners weigh

(Adds details on specific stocks, updates prices)

* TSX down 35.5 points, or 0.23 percent, at 15,649.39

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

TORONTO, April 18 (Reuters) - Canada’s main stock index slipped on Tuesday as banks and mining stocks weighed with lower commodity prices and bond yields, while investors also digested disappointing quarterly results from two U.S. corporate heavyweights.

The most influential weights on the index included diversified miner Teck Resources, which fell 3.5 percent to C$28.76, its lowest since late March, and Lundin Mining Corp, which was off 4.2 percent at C$7.14.

Both stocks had notched solid gains in the prior session after Chinese data showed robust industrial output.

Prices for copper, lead and zinc all fell on Tuesday, as geopolitical tension over North Korea fueled risk aversion.

At 10:26 a.m. ET (1426 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 35.5 points, or 0.23 percent, at 15,649.39. Seven of its 10 main groups were lower, although advancers and decliners were equally matched overall.

The heavyweight financials group lost 0.4 percent, as Goldman Sachs’ earnings missed Wall Street expectations. Sales at U.S. healthcare giant Johnson & Johnson also missed expectations.

Royal Bank of Canada fell 0.3 percent to C$95.61, and Bank of Nova Scotia lost 0.4 percent to C$76.83.

Yields on Canadian and U.S government debt fell as investors took a cautious stance ahead of this weekend’s first round of the French presidential election and amid rising tension between the United States and North Korea.

Resales of Canadian homes rose 1.1 percent in March from February and prices were up 18.6 percent from a year earlier as strong demand in Toronto offset cooling elsewhere, a report from the Canadian Real Estate Association showed.

Foreign investment in Canadian securities hit a record high of C$38.84 billion ($29.20 billion) in February, boosted by cross-border acquisitions and mergers, Statistics Canada said.

Reporting by Alastair Sharp; Editing by Nick Zieminski

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