CANADA STOCKS-TSX edges lower after jobs report; energy shares dip

Fri May 9, 2014 4:53pm EDT

* TSX down 11.97 points, or 0.08 percent, at 14,534.06
    * Six of 10 main index sectors decline
    * TMX slips after earnings report

    By John Tilak
    TORONTO, May 9 (Reuters) - Canada's main stock index fell
slightly on Friday as unexpectedly sluggish jobs data and
worries about escalating tensions in Ukraine spurred declines in
the energy and financial sectors.
    Investors followed news that President Vladimir Putin flew
in to Crimea for parades marking the Soviet victory in World War
Two, while eight people were reported killed in Ukraine.
 
    Government data showed that the Canadian economy lost 28,900
jobs in April, indicating across-the-board weakness and
suggesting economic growth has not been gathering the speed that
was expected in the second quarter. 
    The energy sector, one of the strongest performers this
year, declined for a second straight session. It is up about 12
percent this year.
    The broader Toronto market gave back 1.6 percent this week,
following gains in the previous three.
    "It's a cause for some concern when the markets go up
relentlessly week after week," said Elvis Picardo, strategist at
Global Securities in Vancouver, who views this decline as a
welcome reality check.
    "Market sentiment has been fragile and wobbly in recent
weeks," he added. "It's the reluctance of investors to hold on
to winning positions in an uncertain market rather than anything
else."
    The Toronto Stock Exchange's S&P/TSX composite index
 unofficially closed down 11.97 points, or 0.08
percent, at 14,534.06. Six of the 10 main sectors on the index
were in the red.
    Financials, the index's most heavily weighted sector,
declined 0.2 percent. Manulife Financial Corp shed 1
percent to C$20.31, and Royal Bank of Canada was down
0.2 percent at C$73.09.
    Shares of energy companies lost 0.6 percent, with Enbridge
Inc dropping 0.6 percent to C$52.35. 
    But the materials sector, which includes mining stocks,
advanced. Barrick Gold Corp jumped 1.1 percent to
C$18.79, and Goldcorp Inc added 0.4 percent to C$27.09.
    In corporate news, TMX Group Ltd, the operator of the
Toronto Stock Exchange, reported a 23 percent rise in
first-quarter profit. The stock gave back 0.6 percent to
C$57.79. 

 (Editing by W Simon and Matthew Lewis)
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