Dec 13 (Reuters) - Canada's main stock index extended its losses from the previous session on Friday, hurt by mining and energy shares, while investors grappled with global economic uncertainty and tariff threats, weighing on the market sentiment.
The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE),was down 122.34 points, or 0.48%, at 25,288.37, and was set for its first weekly loss in six.
The index also inched closer to hit its biggest weekly loss since the week of September 3.
Canada's materials sector (.GSPTTMT),slid 1.6% with gold prices falling ahead of potential U.S. rate cut at the Federal Reserve's Dec. 17-18 meeting, while copper prices came under pressure from a stronger dollar.
Additionally, energy (.SPTTEN),lost more than 1% despite higher oil prices.
Telus (T.TO),fell 1.8% after the National Bank of Canada cut the telecom firm's rating, dragging the capped communications (.GSPTTTS),sector 1.5% lower.
"Volatility may remain present as the market processes global economic uncertainties which seem to be particularly abundant at present," said Robert Gill, senior vice president & portfolio manager at Goodreid Investment Counsel, referencing recent U.S. tariff threats and geopolitical upheaval in the Middle East and Eastern Europe.
The Bank of Canada's interest rate cut by 50 basis points on Wednesday sparked fears in the market about economic growth, amid looming tariff threats by U.S. President-elect Donald Trump, as the United States is Canada's biggest trading partner.
The information technology (.SPTTTK),sector gained 0.8% as it received a boost from electronics firm Celestica (CLS.TO),that scaled to a record high.
In economic data, Canadian factory sales grew by 2.1% in October from September on higher sales of petroleum and coal products, as well as transportation equipment.
Among other stocks, Enghouse Systems (ENGH.TO),dropped 10.3% to the bottom of the TSX after the software and services firm missed fourth-quarter revenue estimates.
Reporting by Ragini Mathur; Editing by Vijay Kishore
