January 25, 2018 / 10:40 PM / a month ago

CANADA STOCKS-TSX falls most in six weeks as resource shares slide

 (Adds details throughout on market activity; updates prices)
    * TSX falls 80.2 points, or 0.49 percent, at 16,204.01
    * Five of the index's 10 main groups decline
    * Energy falls 1 percent, materials down 1.4 percent
    * Enbridge falls 2.4 percent, TransCanada declines 2.6
percent

    TORONTO, Jan 25 (Reuters) - Canada's main stock index
suffered its biggest drop since mid-December on Thursday as
pipeline operators led declines for energy companies, while gold
miners were pressured by a pullback in the price of the precious
metal.
    
    * The Toronto Stock Exchange's S&P/TSX composite index
          closed down 80.2 points, or 0.49 percent, at
16,204.01, its biggest drop since Dec. 14.
    * Some of the biggest drags on the index were major oil
pipeline operators. Enbridge Inc          fell 2.4 percent to
C$47.56 and TransCanada Corp          declined 2.6 percent to
C$57.72.
    * The overall energy group fell 1 percent, while U.S. crude
oil futures        pulled back from an earlier three-year high
to settle 0.2 percent lower at $65.51 a barrel.
    * The materials group, which includes precious and base
metals miners and fertilizer companies, lost 1.4 percent.
    * Gold        dropped more than 1 percent, retreating after
an early rise as the U.S. dollar strengthened when President
Donald Trump talked up a stronger greenback.             
    * NovaGold Resources Inc         tumbled 10.8 percent to
C$4.80.  
    * The financials group, which accounts for more than
one-third of the weight of the TSX, dipped 0.1 percent.
    * Five of the index's 10 main groups ended lower.
    * Marijuana stocks added to Wednesday's declines. Canopy
Growth Corp           fell 9.2 percent to C$31.68 and Aurora
Cannabis Inc          was down 6.2 percent at C$13.11.
    * Canadians spent an estimated C$5.7 billion on cannabis in
2017, Statistics Canada said, with the country on track to
legalize recreational use of the drug nationwide later this
year.              
    * Electronics manufacturing services company Celestica Inc
         fell 5.4 percent to C$12.87 after reporting
fourth-quarter earnings after the bell on Wednesday that missed
estimates.
    * Shares of Bombardier Inc           fell 2.2 percent to
C$3.07. The planemaker is expected to lose a hotly contested
U.S. trade dispute this week, a Canadian government source told
Reuters on Thursday, likely inflaming tensions between the two
countries during talks to modernize the North American Free
Trade Agreement.
    * U.S. officials on Thursday probed Canadian proposals for
unblocking talks on NAFTA but there were few signs of progress,
raising questions about whether any real movement is happening
at the latest round of negotiations on the treaty.             

 (Reporting by Fergal Smith; Editing by James Dalgleish)
  
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