By Solarina Ho
TORONTO, Nov 26 (Reuters) - Toronto's main stock index finished lower on Friday as the influential energy and mining sectors were dragged lower by soft commodity prices, which fell on worries over euro zone debt.
Suncor Energy fell 1.13 percent to C$34.16 and was the biggest market mover, leading the energy group down 0.83 percent as oil prices inched lower. Canadian Natural Resources sank 1.07 percent to C$39.60.
Slumping gold prices helped drag down the broader materials group by 0.44 percent. Gold fell 1 percent in thin trading as risk-averse markets looked to the security of the U.S. dollar, sending the greenback to two-month highs. Barrick Gold eased 0.27 percent to C$51.85.
'The golds are also in a profit-taking mode,' said John Ing, president of Maison Placements Canada.
The Toronto Stock Exchange's S&P/TSX composite index closed down 53.10 points, or 0.41 percent, at 12,892.71. The TSX was down 0.49 percent on the week.
Six of the index 10 main groups finished lower on Friday.
Financial issues, another index powerhouse, fell 0.3 percent, weighed down by the big banks. Toronto-Dominion Bank was off 0.66 percent at C$74.81. Royal Bank of Canada was down 0.52 percent at C$55.00.
Markets were rattled by worries over European sovereign debt levels and the possibility of further big bailouts, and by military tensions between North and South Korea.
Market speculation worried that Portugal could follow in the steps of Ireland and have to seek a European bailout, and that sovereign debt problems could also spread to Spain.
'It's a chronic problem and it's a contagion, and we're watching it unwind. The skirmish between the Koreas is another problem,' said Ing.
Korean tensions remained high days after North Korea shelled a South Korean island and ahead of military exercises in the region by South Korea and the United States.
In individual company news, C&C Energia, which said it suspended some production in Colombia due to protests and road blockades, was down 1.91 percent at C$10.25.
Markets were very quiet on Friday following Thursday's U.S. Thanksgiving holiday and with Wall Street closing up shop early, at 1 p.m. EST (1800 GMT).
'Markets tend to get very thin around American Thanksgiving and then, as you get into December, you get the start of the Santa Claus rally just because most people have taken their tax losses for the year and the least path of resistance is up,' noted Irwin Michael, a portfolio manager at ABC Funds.
($1=$1.02 Canadian)
(Editing by Rob Wilson) ============================================================== FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS: TSX market report........................................ Canadian dollar and bonds report................... Top News: Canada .................................... Today in Canada..................................... Canada earnings schedule............................. Canadian company news ................................ Reuters global stocks poll (Canada)................ FOR CANADIAN MARKETS DATA, CLICK ON CODES IN BRACKETS: Canadian Equities speed guide...................... S&P/TSX Composite index ............................. S&P/TSE Venture composite index ..................... TSX most active....................................... Venture Exchange most active........................... Top TSX pct gainers................................... Top TSX pct losers.................................... S&P/TSX 60 index ..................................... 52 week highs: TSX............... Venture.............. 52 week lows: TSX............... Venture.............. Canadian dollar quote..................... FOR MAIN GLOBAL MARKET DATA AND MARKET REPORTS: FTSE EUROTOP 300 ..... EUROPEAN REPORT ....... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt market stories CAC-40................. Paris market stories... World Indices..................................... Global markets report............................ Foreign exchange...................................... Oil.................................................... US Treasuries.......................................... International bonds................................... Gold....................................... or CRB index of commodity futures........................ Keywords: MARKETS CANADA/STOCKS (solarina.ho@thomsonreuters.com;+1 416 941 8067; Reuters Messaging: solarina.ho.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
TORONTO, Nov 26 (Reuters) - Toronto's main stock index finished lower on Friday as the influential energy and mining sectors were dragged lower by soft commodity prices, which fell on worries over euro zone debt.
Suncor Energy fell 1.13 percent to C$34.16 and was the biggest market mover, leading the energy group down 0.83 percent as oil prices inched lower. Canadian Natural Resources sank 1.07 percent to C$39.60.
Slumping gold prices helped drag down the broader materials group by 0.44 percent. Gold fell 1 percent in thin trading as risk-averse markets looked to the security of the U.S. dollar, sending the greenback to two-month highs. Barrick Gold eased 0.27 percent to C$51.85.
'The golds are also in a profit-taking mode,' said John Ing, president of Maison Placements Canada.
The Toronto Stock Exchange's S&P/TSX composite index closed down 53.10 points, or 0.41 percent, at 12,892.71. The TSX was down 0.49 percent on the week.
Six of the index 10 main groups finished lower on Friday.
Financial issues, another index powerhouse, fell 0.3 percent, weighed down by the big banks. Toronto-Dominion Bank was off 0.66 percent at C$74.81. Royal Bank of Canada was down 0.52 percent at C$55.00.
Markets were rattled by worries over European sovereign debt levels and the possibility of further big bailouts, and by military tensions between North and South Korea.
Market speculation worried that Portugal could follow in the steps of Ireland and have to seek a European bailout, and that sovereign debt problems could also spread to Spain.
'It's a chronic problem and it's a contagion, and we're watching it unwind. The skirmish between the Koreas is another problem,' said Ing.
Korean tensions remained high days after North Korea shelled a South Korean island and ahead of military exercises in the region by South Korea and the United States.
In individual company news, C&C Energia, which said it suspended some production in Colombia due to protests and road blockades, was down 1.91 percent at C$10.25.
Markets were very quiet on Friday following Thursday's U.S. Thanksgiving holiday and with Wall Street closing up shop early, at 1 p.m. EST (1800 GMT).
'Markets tend to get very thin around American Thanksgiving and then, as you get into December, you get the start of the Santa Claus rally just because most people have taken their tax losses for the year and the least path of resistance is up,' noted Irwin Michael, a portfolio manager at ABC Funds.
($1=$1.02 Canadian)
(Editing by Rob Wilson) ============================================================== FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS: TSX market report........................................ Canadian dollar and bonds report................... Top News: Canada .................................... Today in Canada..................................... Canada earnings schedule............................. Canadian company news ................................ Reuters global stocks poll (Canada)................ FOR CANADIAN MARKETS DATA, CLICK ON CODES IN BRACKETS: Canadian Equities speed guide...................... S&P/TSX Composite index ............................. S&P/TSE Venture composite index ..................... TSX most active....................................... Venture Exchange most active........................... Top TSX pct gainers................................... Top TSX pct losers.................................... S&P/TSX 60 index ..................................... 52 week highs: TSX............... Venture.............. 52 week lows: TSX............... Venture.............. Canadian dollar quote..................... FOR MAIN GLOBAL MARKET DATA AND MARKET REPORTS: FTSE EUROTOP 300 ..... EUROPEAN REPORT ....... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt market stories CAC-40................. Paris market stories... World Indices..................................... Global markets report............................ Foreign exchange...................................... Oil.................................................... US Treasuries.......................................... International bonds................................... Gold....................................... or CRB index of commodity futures........................ Keywords: MARKETS CANADA/STOCKS (solarina.ho@thomsonreuters.com;+1 416 941 8067; Reuters Messaging: solarina.ho.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.