(Adds strategist comment, updates prices to close)
* TSX down 90.53 points, or 0.58 percent, at 15,496.05
* Eight of the TSX's 10 main groups end lower
By Alastair Sharp
TORONTO, Jan 6 Canada's main stock index fell on
Friday, with gold miners and other materials stocks leading a
broad retreat from a three-day rally that saw the index approach
an all-time high to start the year.
The Toronto Stock Exchange's S&P/TSX composite index
ended the day down 90.53 points, or 0.58 percent, at
15,496.05 despite booming jobs and trade data.
"We had a couple of good days before this so there's some
money getting taken back off the table as there's some
uncertainty about the numbers," said Sadiq Adatia, chief
investment officer at Sun Life Global Investments.
For the holiday-shortened week, the index notched a 1.4
The economy unexpectedly added 53,700 jobs last month, data
from Statistics Canada showed, but analysts and investors
pointed to a history of volatility as a reason stocks and the
currency responded in muted fashion.
Another report showed Canada posted an unexpected trade
surplus in November, its first in more than two years.
Eight of the index's 10 main groups finished in negative
territory, with three declining issues for every gainer.
"What we're seeing is what we'll see more of this year,
these ups and downs," said Adatia, who added he was neutral on
Canada for this year compared with a more negative view last
The materials group, which includes precious and base metals
miners and fertilizer companies, lost 2.9 percent. Gold futures
fell 0.7 percent to $1,172 an ounce.
The most influential weights on the index included Tahoe
Resources Inc, which fell 14 percent to C$12.73 after
the miner forecast 2017 capital spending above estimates,
analysts said. Tahoe also said it expected flat gold production
in 2017 and lower silver output, lagging consensus expectations.
Fertilizer company Potash Corp declined 1.6 percent
to C$24.43, while diversified miner Teck Resources Ltd
lost 2.6 percent to C$27.84.
The energy group retreated 0.4 percent as oil prices were
little changed. The heavyweight financials group slipped 0.2
percent, and consumer staples fell 0.7 percent. Consumer
discretionary stocks were the only group to gain, up 0.1
percent, while technology stocks were flat.
(Reporting by Alastair Sharp; Editing by Lisa Von Ahn and