* TSX down 13.18 points, or 0.09 percent, at 14,689.11
* Six of the 10 main index sectors decline
* Canadian Natural climbs 0.6 percent
By John Tilak
TORONTO, May 23 Canada's main stock index was
little changed on Friday with higher oil prices helping to push
up shares of energy producers, while the mining-heavy materials
Worries about instability in Ukraine boosted the price of
oil as Russian President Vladimir Putin said he wanted better
ties with the West but fiercely criticized U.S. policy in the
Investors also digested data that showed Canada's annual
inflation rate rose to the central bank's 2 percent target in
April for the first time in two years.
The Toronto stock market's benchmark index is up about 8
percent this year, benefiting from a rebound in its natural
resource sectors, but some investors wonder if the rise may be
set to be interrupted.
"The market has done pretty well year-to-date, and I think
we may be seeing a pause here, possibly even a correction
sometime," said Michael Sprung, president of Sprung Investment
Canadian stock prices have outpaced fundamentals, he added.
"Canada is running substantially ahead, yet the U.S. economy is
beginning to look like it's on a more solid footing."
Sprung said that the energy sector, which has recorded
strong gains this year, still offers good value. His holdings
include Suncor Energy Inc and Encana Corp.
The Toronto Stock Exchange's S&P/TSX composite index
was down 13.18 points, or 0.09 percent, at 14,689.11
on Friday. Six of the 10 main sectors on the index were in the
Shares of energy producers added 0.2 percent. Among them,
Canadian Natural Resources Ltd climbed 0.6 percent to
C$44.62, and Suncor Energy Inc rose 0.1 percent to
Financials, the index's most heavily weighted sector, edged
higher. In the group, Toronto-Dominion Bank was up 0.3
percent at C$53.40.
The materials sector slipped 0.6 percent. Goldcorp Inc
shed 1.6 percent to C$26.46, and Potash Corp
gave back 0.8 percent to C$39.24.
(Editing by Peter Galloway)