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TSX slips as gold miners, tech stocks weigh; energy stocks, CIBC rise

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12/01/2017 | 11:08pm CEST
The Toronto Stock Exchange sing is seen in Toronto

TORONTO (Reuters) - Canada's main stock index slipped on Friday, weighed down by losses among some gold miners, technology, telecom and consumer names which offset gains for energy companies as oil prices rose and Canadian Imperial Bank of Commerce's (>> Canadian Imperial Bank of Commerce) extended post-earnings rally.

TORONTO (Reuters) - Canada's main stock index slipped on Friday, weighed down by losses among some gold miners, technology, telecom and consumer names which offset gains for energy companies as oil prices rose and Canadian Imperial Bank of Commerce's (>> Canadian Imperial Bank of Commerce) extended post-earnings rally.

* The Toronto Stock Exchange's S&P/TSX composite index <.GSPTSE> ended down 28.51 points, or 0.18 percent, at 16,038.97. It lost 0.4 percent over the course of the week.

* Seven of the index's 10 main groups were lower, with the technology sector down 1.4 percent and the materials group, which includes precious and base metals miners and fertilizer companies, losing 1.3 percent.

* BlackBerry Ltd (>> BlackBerry Ltd) fell 1.7 percent to C$13.69 after agreeing to pay Nokia about $137 million in a contract dispute, while Shopify Inc <SHOP.TO> retreated 3.2 percent to C$130.84.

* Gold-focused royalty company Franco-Nevada Corp (>> Franco Nevada Corp) fell 2.6 percent to C$102.34 and other gold miners also lost ground despite the precious metal getting a boost from safe haven flows after an ABC report that added to concerns about U.S. President Donald Trump's exposure to a probe into Russian meddling in last year's election campaign.

* The energy group climbed 1.1 percent, as oil prices rose following a deal among major producer to extend an output curb.

* Canadian Natural Resources Ltd (>> Canadian Natural Resources Limited) rose 2.3 percent to C$44.75 and Cenovus Energy Inc (>> Cenovus Energy Inc) jumped 4.6 percent to C$12.87.

* U.S. crude <CLc1> prices were up 1.7 percent to $58.36 a barrel, while Brent <LCOc1> added 1.7 percent to $63.7. [O/R]

* The financials group gained 0.2 percent, with Canadian Imperial Bank of Commerce (>> Canadian Imperial Bank of Commerce) up 2.6 percent at C$121.20, extending gains as several analyst upgraded their view on the stock following its Thursday earnings beat.

* BRP Inc (>> BRP Inc) jumped early before pulling back to end up 1.1 percent at C$47.68 after the Ski-Doo maker posted earnings that beat expectations.

(Reporting by Alastair Sharp)

By Alastair Sharp

Stocks mentioned in the article
ChangeLast1st jan.
GOLD 0.63% 1225.6 Delayed Quote.-6.40%
S&P/TSX COMPOSITE INDEX 0.63% 15470.1 Delayed Quote.-4.90%
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