(Updates share prices, details)
* TSX down 79.13 points, or 0.55 percent, at 14,186.24
* Six of TSX's 10 main groups fall
By Solarina Ho
TORONTO, July 24 (Reuters) - Canada's main stock index fell
on Friday as weak oil prices dragged down shares of energy
producers, offsetting a rebound by gold-mining shares.
The benchmark index declined for a sixth straight session
and is down about 3 percent so far this year.
Disappointing earnings contributed to Friday's decline, with
the only major bright spot being the jump by gold miners after
days of steep losses. In the sector, Goldcorp Inc G.TO rallied
4.1 percent to C$17.35 and Barrick Gold Corp ABX.TO added 2.8
percent to C$9.47.
"When a sector is oversold and beaten up as it is right now,
long-term investors can see some good entry points," said
Youssef Zohny, portfolio manager at StennerZohny Investment
Partners+ of Richardson GMP Ltd, which manages about C$28.3
billion in assets.
"Resource shares look attractively priced and are a buying
opportunity if you take the long-term outlook," he added.
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE closed down 79.13 points, or 0.55 percent, at
14,186.24. Six of the 10 main sectors on the index were in the
red.
Shares of Encana Corp ECA.TO , Canada's No. 1 natural gas
producer, plunged 8.6 percent to C$10.26 after it reported a
bigger-than-expected quarterly loss. ID:nL3N1043YP
With crude oil prices trading lower, Suncor Energy SU.TO
shed 1.7 percent to C$33.08. The overall energy sector, which
has fallen more than 25 percent from its highs in April,
retreated 2.2 percent.
Diversified miner Teck Resources Ltd TCKb.TO fell 6.8
percent to C$9.26 even though its quarterly earnings beat
expectations. Investors remained unhappy with Teck's bloated
debt and hefty capital commitments. ID:nL1N1032JW
($1=$1.30 Canadian)