(Adds details throughout on stocks and sectors and updates
* TSX falls 167.07 points, or 1.06 percent, to 15,614.13
* All of the TSX's 10 main groups retreat
* Energy falls more than 2 percent
TORONTO, Feb 24 Canada's main stock index hit a
two-week low in Friday, extending its pullback from a record
high in a broad-based sell-off that included losses for its
heavyweight energy and financial services groups as oil prices
At 10:50 a.m. ET (1550 GMT), the Toronto Stock Exchange's
S&P/TSX composite index was down 167.07 points, or
1.06 percent, at 15,614.13. All of the index's 10 main groups
For the week, the index was on track to fall 1.4 percent,
the most since before the U.S. presidential election in early
November, while stocks on Wall Street also declined on Friday as
investors assessed whether the "Trump rally" had gone too far
Royal Bank of Canada reported quarterly earnings of
more than C$3 billion for the first time, beating market
Still, its shares fell 0.9 percent to C$97.38, and the
financial services sector retreated 0.8 percent.
Auto parts maker Magna International Inc tumbled 5.5
percent to C$55.92 after it reported a lower-than-expected
quarterly profit as costs rose.
Husky Energy Inc fell 2.5 percent to C$15.99 even
as the oil producer reported a smaller-than-expected quarterly
The energy group tumbled more than 2 percent as oil prices
fell, with Suncor Energy Inc declining 2.7 percent to
U.S. crude prices were down 0.50 percent at $54.18 a
barrel after inventories rose for the seventh week.
In an interview with Reuters on Thursday, U.S. President
Donald Trump spoke favorably about a potentially export-boosting
border adjustment tax being pushed by Republicans in the U.S.
Investors worry that the border tax would reduce the
competitiveness of Canada's oil exports.
Canada's MacDonald Dettwiler and Associates Ltd
said it would buy U.S.-based DigitalGlobe Inc for about
C$3.10 billion to strengthen its position in the satellite
Its shares tumbled 5.1 percent to C$65.50, while the
industrials group declined 0.8 percent.
The materials group, which includes precious and base metal
miners and fertilizer companies, fell 0.4 percent. Its losses
were cushioned by gains for gold stocks as the metal climbed to
its highest in 3-1/2 months.
Gold futures rose 0.2 percent to $1,252.6 an ounce,
and copper prices advanced 1.5 percent to $5,949.5 a
Canada's annual inflation rate jumped to a
stronger-than-expected 2.1 percent in January, its highest in
more than two years.
(Reporting by Fergal Smith; Editing by Lisa Von Ahn)