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TSX ends down 0.4% at 26,903.57

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Materials group falls 3.5% as gold price declines

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Tech loses 0.9% with Shopify ( SHOP ) down 3.4%

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Energy adds 2.1% as oil settles 0.6% higher

(Updates at market close)

By Fergal Smith

July 8 (Reuters) - Canada's main stock index fell on

Tuesday for a second straight day as a drop in gold prices

weighed on metal mining shares and after U.S. President Donald

Trump said he would impose a hefty tariff on copper imports.

The S&P/TSX composite index ended down 116.71

points, or 0.4%, at 26,903.57, extending its pullback from a

record closing high on Friday.

Trump said he will announce a 50% tariff on copper later in the

day, aiming to boost U.S. production of a metal critical to

electric vehicles, military hardware, the power grid and many

consumer goods. Canada is among the top suppliers of copper to

the United States.

U.S. copper futures jumped more than 10%, but gold

was down 1%.

"We've got gold off and that's keeping the miners down," said

Philip Petursson, chief investment strategist at IG Wealth

Management.

"Gold being down is outweighing any benefit from copper

being up and I think also the market could just be reacting in a

knee jerk fashion to what Trump is saying."

The materials group, which includes metal mining shares,

fell 3.5%. Technology was also a drag, losing 0.9%, with shares

of e-commerce company Shopify ( SHOP ) down 3.4%.

Not all sectors lost ground. Energy added 2.1% as the price of

oil settled 0.6% higher at $68.33 a barrel on forecasts for less

U.S. oil production and after renewed Houthi attacks on shipping

in the Red Sea.

Communication stocks were another bright spot, with BCE

Inc ( BCEXF ) rising 2.7% and Rogers Communications Inc ( RCIAF )

ending 1.4% higher.