CANADA STOCKS-TSX hits five-month low as mining stocks fall

By Kitco News / February 09, 2018 / www.kitco.com / Article Link

(Updates throughout with closing prices)

TORONTO, Feb 9 (Reuters) - Canada's main stock index fell on Friday, closing at its lowest level in five months, reflecting weakness in mining stocks as gold futures and copper prices declined.

* The Toronto Stock Exchange's S&P/TSX composite index closed down 31.08 points, or 0.21 percent, to 15,034.53.

* Of the index's 10 main industry groups, seven ended in negative territory.

* The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.1 percent.

* Guyana Gold slid by 7.6 percent, Eldorado Gold shed 7.1 percent, New Gold dropped by 6.3 percent and Oceangold Corp was down 5.9 percent.

* The largest percentage decliner was Sierra Wireless Inc , down 13.6 percent, after the company reported a fourth-quarter loss after the bell on Thursday.

* U.S. gold futures settled down 0.3 percent at $1,315.70 an ounce. * Copper prices declined 1.4 percent to $6,750 a tonne. * The index was posting no new 52-week highs and 50 new lows.

* The Canadian economy lost the most jobs in nine years in January, pulling back after a robust 2017 and solidifying expectations the Bank of Canada will hold interest rates steady next month .


(Reporting by Fergal Smith, editing by G Crosse)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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