CANADA STOCKS-TSX retreats as lower commodity prices pressure resource stocks

By Kitco News / January 16, 2018 / www.kitco.com / Article Link

(Adds details on stocks, updates prices)

* TSX ends down 72.93 points, or 0.45 percent, at 16,298.88

* Eight of TSX's 10 main groups end lower

* Materials group down 1.2 percent, energy off 1.9 percent


TORONTO, Jan 16 (Reuters) - Canada's main stock index fell on Tuesday as lower commodity prices weighed on the shares of materials and energy companies.

* The Toronto Stock Exchange's S&P/TSX composite index closed down 72.93 points, or 0.45 percent, at 16,298.88.

* Losses for the index came as the recent rally on Wall Street paused.

* The materials group, which includes precious and base metals miners and fertilizer companies, fell 1.2 percent, while the energy group retreated 1.9 percent.

* The most influential weights included oil and gas producer Encana Corp , which fell 5 percent to C$16.72.

Barrick Gold Corp declined 3.1 percent to C$18.88 and diversified miner Teck Resources Ltd was down 4.1 percent at C$37.06.

* Gold slipped from a four-month high reached on Monday as the U.S. dollar clawed back some lost ground, while copper and nickel hit multi-week lows. Crude prices also pulled back after recent gains. * BlackBerry Ltd fell 1.7 percent to C$17.18 despite launching cyber-security software that identifies vulnerabilities in programs used in self-driving cars. * Eight of the index's 10 main groups ended lower.

* Yellow Pages Ltd advanced 0.7 percent to C$8.27 after the company, once well known for its thick-print directories, said it would fire about 500 employees to cut costs and turn around its digital advertising platform. * SSR Mining Inc jumped 12.3 percent to C$11.48 after the precious metal miner reported fourth-quarter earnings and provided guidance for 2018. * Constellation Software Inc climbed 6.9 percent to C$787.87 after its Harris Operating Group acquired Acceo Solutions for C$250 million. (Reporting by Fergal Smith and Alastair Sharp; Editing by Bernadette Baum and Peter Cooney)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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