* TSX falls 35.37 points, or 0.24 percent, to 13,510.66 * Six of 10 main index sectors decline * Materials sector climbs with commodity prices By John Tilak TORONTO, May 9 (Reuters) - Canada's main stock index declined on Friday after declines in the energy and financial sectors weighed on the market following unexpectedly sluggish jobs data and worries about the situation in Ukraine.
President Vladimir Putin flew in to Crimea for parades marking the Soviet victory in World War Two, while eight people were reported killed in Ukraine.
Government data showed that the Canadian economy lost 28,900 jobs in April, indicating across-the-board weakness and confirming the labor market is adding jobs at a more sluggish pace than in the United States.
"This is indicative of the underlying weakness in the Canadian economy," said Philip Petursson, managing director, portfolio advisory group, at Manulife Asset Management. "It does raise some concern about the health of the Canadian economy overall." But the TSX is likely to benefit this year from strength in the energy sector, which could gain from higher oil prices and a weaker dollar, among other factors, he said. Despite a decline on Friday, the group is up about 12 percent this year.
"There are some positive catalysts and conditions to allow for energy stocks, which are cheaper than the broader market, to continue to outperform," Petursson said.
The Toronto Stock Exchange's S&P/TSX composite index was down 35.37 points, or 0.24 percent, at 13,510.66. It looked set to record a weekly decline.
Six of the 10 main sectors on the index were in the red.
Financials, the index's most heavily weighted sector, declined 0.3 percent. Toronto Dominion Bank shed 0.4 percent to C$52.06, and Royal Bank of Canada was down 0.3 percent at C$73.03.
Shares of energy companies lost 1.2 percent, with Suncor Energy Inc dropping 0.6 percent to C$41.96.
But the materials sector, which includes mining stocks, advanced, supported by gains in the prices of commodities such as bullion, silver and copper.
Barrick Gold Corp jumped 1.8 percent to C$18.92, and Goldcorp Inc added 0.6 percent to C$27.12.
(Editing by W Simon)
- Commodity Markets
- US International News
- President Vladimir Putin
- Philip Petursson