TSX edges lower, resource stocks offset broader gains

Even so, the index is considered on track for a 3% gain on the week.

The materials group rallied 0.8 percent, helped by a firming gold price.

The S&P/TSX Global Gold Index increased 2.39 percent as Barrick Gold Corporation gained 4.26 percent to 10.04 Canadian dollars and Goldcorp Inc. also added 2.21 percent to 16.18 Canadian dollars.

On commodity markets, the January contract for benchmark crude oil was up 63 cents at US$42.35 a barrel, while December natural gas plunged 14 cents to US$2.14 per mmBtu.

However, the energy sector and the mining sector both dropped 1.54 percent over the falling oil prices.

It stock was down $5.75 or 4.9 per cent at US$111.52.

Bombardier Inc rose 5.5 percent to C$1.35 after it said Caisse de depot et placement du Quebec, which manages Quebec’s public pension plans, would buy a 30 percent stake in its rail unit for $1.5 billion.

Abercrombie & Fitch earned 37 cents US per share for its latest quarter, well above estimates of 22 cents U.S. Revenue also beat estimates, and although Abercrombie’s same-store sales fell 1% during the quarter, that was smaller than the 2.3% drop anticipated by analysts.

In economic news, Statistics Canada said lower gasoline prices continued to weigh against a rise in the cost of food in October as the consumer price index rose 1.0 per cent compared with a year ago, unchanged from September.

Health-care stocks were among the biggest decliners on USA markets after UnitedHealth Group (NYSE:UNH) cut its 2015 earnings forecast.

Eight of the index’s 10 main groups were in positive territory.

BCE Inc improved 0.6% to $58.76 following news it is expanding its control of HBO content in Canada.

Gold prices fell $5.06 to $1,077.15 U.S.an ounce.