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TSX ends down 0.1% at 21,554.86

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For the week, the index loses 0.4%

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Materials group falls 1.3% as metal prices decline

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Energy sector ends 1.4% lower

(Updates at market close)

By Fergal Smith

June 21 (Reuters) - Canada's resource heavy main stock

index ended lower on Friday, extending its weekly loss, as

declines for commodity prices weighed on energy and metal mining

shares.

The S&P/TSX composite index ended down 26.49

points, or 0.1%, at 21,554.86. For the week, the index was down

0.4%.

It was the fifth straight weekly decline for the index,

which is the longest such stretch since May 2023.

"This is the momentum of everything going to the U.S.," said

Paul Gardner, a portfolio manager at Avenue Investment

Management. "With the relative weakness of oil and the commodity

space, the TSX has given back some (gains)."

The Toronto market has advanced 2.9% this year, much less

than the 14.6% gain for U.S. benchmark the S&P 500, which has

greater exposure to high-flying technology shares.

The materials group, which includes metal miners

and fertilizer companies fell 1.3% as gold and copper

prices declined.

Concern over surplus supplies and sluggish demand in leading

metals consumer China weighed on copper prices, which have

pulled back from a record peak last month.

Energy also lost ground, falling 1.4%, as the

price of oil settled 0.7% lower at $80.73 a barrel.

Combined, the energy and materials sectors account for 32%

of the TSX's weighting.

"The world doesn't want to know about Canada ... We think

it's pretty reasonable to be exposed to Canadian assets because

they trade far cheaper," Gardner said.

The TSX's 12-month forward price-earnings ratio, a key

measure of valuation, has fallen to 13.9 this month from 14.7 in

March, LSEG Datastream data shows.

Among the sectors that gained ground was technology

. It rose 1.1% and consumer staples added

0.5%.