(Adds portfolio manager quotes, details on energy and utilities
companies, updates prices)
* TSX closes down 58.72 points, or 0.4 percent, at 14,584.99
* Seven of the TSX's 10 main groups end lower
* Index rises 0.1 percent for the week
By Fergal Smith
TORONTO, Oct 14 Canada's main stock index fell
on Friday as a stronger U.S. dollar pressured gold prices and
energy companies scrambled to protect pipelines.
The materials group, which includes precious and base metals
miners and fertilizer companies, lost 1.5 percent as gold prices
fell and copper prices hit a one-month low.
Barrick Gold Corp fell 2.6 percent to C$20.60,
while Goldcorp Inc declined nearly 3 percent to C$18.81
and Kinross Gold Corp was down 4.4 percent at C$4.74.
Spot gold fell 0.4 percent as the U.S. dollar rose
after strong U.S. retail sales and producer prices data for
September reinforced expectations the Federal Reserve would
raise interest rates in December.
Losses for gold stocks also reflect profit taking after the
sector's big rally earlier this year, said Gavin Graham, chief
strategy officer at Integris Pension Management Corp.
A global gold index heavily populated by Canadian miners
dropped 2.8 percent. It rose steadily this year until
August, but has faltered since.
Energy stocks declined 0.6 percent as oil fell.
U.S. crude prices settled 9 cents lower at $50.35 a
barrel, pressured by a stronger dollar and another increase in
the U.S. oil rig count.
Canadian Natural Resources Ltd fell 1.4 percent to
C$42.23 and energy infrastructure company TransCanada Corp
declined nearly 1 percent to C$60.52.
Canadian energy companies and officials share intelligence,
scour social media and send up surveillance drones but even so
they say preventing a disruption to the country's vast pipeline
network is near impossible and each side wants the other to do
The Toronto Stock Exchange's S&P/TSX composite index
closed down 58.72 points, or 0.4 percent, at
Seven of the index's 10 main groups ended lower.
Still, the index edged 0.1 percent higher for the week.
"As long as you are constructive on the energy and materials
sector, the TSX is going to continue to display strength and
maybe the next move you will see will be a move to the upside,"
Teck Resources Ltd rebounded 3.1 percent to
C$24.66 after falling on Thursday on weak Chinese data.
But on Friday China reported an unexpected rise in September
producer prices for the first time in nearly five years.
Consumer inflation also beat expectations, easing some concerns
about the health of the world's second-biggest economy.
The utilities group rose 0.9 percent, led by a 2.4 percent
advance in the shares of Fortis Inc to C$41.95.
(Additional reporting by Alastair Sharp; Editing by Meredith
Mazzilli and Richard Chang)