* TSX down 76.51 points, or 0.49 percent, to 15,543.14
* All 10 of TSX's main industry groups end lower
By Solarina Ho
TORONTO, May 3 Canada's main stock index
retreated on Wednesday as lower commodity prices weighed on
resource stocks, while negative sentiment around troubled Home
Capital Group Inc spilled over into the broader
The Toronto Stock Exchange's S&P/TSX composite index
closed down 76.51 points, or 0.49 percent, at
15,543.14. All of the index's 10 biggest groups lost ground.
"More so than anything, it's the Home Capital sentiment
spillover that's leading to some caution," said Bryden Teich,
portfolio manager at Avenue Investment Management.
"That kind of sentiment could linger for a little bit, but
fundamentals still look pretty good."
The overall materials group, home to precious and base
metals miners and fertilizer companies, lost 1.3 percent,
tracking falls in base metals, including copper and nickel.
Copper prices fell 3.5 percent to $5,600.15 a tonne.
Teck Resources Ltd fell 5.8 percent to C$26.64,
while First Quantum Minerals Ltd gave back 5.4 percent
Kinross Gold Corp and Tahoe Resources Inc
tempered some of the losses and were among the most positive
influential movers, after the gold miners reported strong
results late on Tuesday. Kinross jumped 10.7 percent to C$5.08,
while Tahoe surged 15.1 percent to C$12.35.
The financials group, which accounts for roughly a third of
the entire index's weight, dipped 0.2 percent.
Home Capital, which is delaying its earnings results, saw
its shares fall 11.7 percent to C$6.84. Depositors have rushed
to pull their money out of the non-bank lender after it faced
"It really shows how quickly liquidity or confidence in a
financial institution can totally evaporate within a couple of
weeks," said Teich. "Once your liquidity is gone, kapoof, you're
Energy stocks also edged lower, slipping 0.2 percent, with
Suncor Energy Inc down 1.0 percent to C$42.69.
Torstar Corp shares, which touched a record low of
C$1.29 in intraday trade, tumbled 9.6 percent to finish at
C$1.50 after the newspaper publisher reported a
Declining issues outnumbered advancing ones on the TSX by
190 to 54, for a 3.52-to-1 ratio on the downside.
The index was posting 11 new 52-week highs and three new
(Reporting by Solarina Ho; Editing by Peter Cooney)