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CANADA STOCKS-TSX down as softer commodity prices weigh on resource shares
June 26, 2017 / 3:02 PM / 3 months ago

CANADA STOCKS-TSX down as softer commodity prices weigh on resource shares

* TSX down 36.41 points, or 0.24 percent, to 15,283.15

* Four of the TSX’s 10 main groups fall

* Materials group down 0.9 percent, energy stocks fall 1 percent

* Valeant Pharmaceuticals up 7.1 percent

TORONTO, June 26 (Reuters) - Canada’s main stock index fell on Monday as declines in heavyweight sectors such as energy and materials outweighed moderate gains in a number of other groups.

Gold miners were the most influential decliners on the index as gold prices sank to near six-week lows. Agnico Eagle Mines Ltd slumped 2 percent to C$62.17, while Goldcorp Inc fell 1.2 percent to C$18.07.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.9 percent. Gold futures fell 0.9 percent to $1,245 an ounce as a large sell order hit sentiment, though losses were limited by global political uncertainty.

At 10:41 a.m. ET (1441 GMT), the Toronto Stock Exchange’s S&P/TSX composite index fell 36.41 points, or 0.24 percent, to 15,283.15.

Of the index’s 10 main groups four were in negative territory.

The energy group gave back 1 percent, with Canadian Natural Resources Ltd down 1.1 percent to C$37.38.

The group reversed earlier gains as oil prices dipped, with U.S. crude prices down 0.4 percent to $42.83 a barrel. Crude prices still managed to hold above last week’s seven-month lows, however.

Financial stocks, which make up roughly a third of the index’s weight, also fell, slipping 0.2 percent as some of the country’s top banks lost ground.

Healthcare rallied 2.3 percent, with Valeant Pharmaceuticals International Inc surging 7.1 percent to C$22.42, and hitting its highest since Jan. 10. Shares had jumped last week after billionaire investor John Paulson joined the company’s board.

BlackBerry Ltd rebounded 3.8 percent to C$13.35 after sharp losses on Friday following disappointing quarterly results.

Declining issues outnumbered advancing ones on the TSX by 154 to 87, for a 1.77-to-1 ratio on the downside. (Reporting by Solarina Ho; Editing by Meredith Mazzilli)

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