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TSX ends down 0.6% at 24,413.94

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Posts lowest closing level since Nov. 5

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Materials sector loses 0.9%

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Energy falls 0.8%; oil settles nearly 1% lower

(Updates at market close)

By Fergal Smith

Dec 19 (Reuters) - Canada's main stock index fell to a

six-week low on Thursday, including losses for resource and

industrial shares, as investors weighed the potential impact on

returns of a more hawkish Federal Reserve and a weaker Canadian

dollar.

The Toronto Stock Exchange's S&P/TSX composite index

ended down 143.06 points, or 0.6%, at 24,413.94, its

lowest closing level since Nov. 5 and the sixth straight day of

declines. That's the longest daily losing streak since October

2023.

"I am quite encouraged by the TSX going forward but

near-term this could be a reaction to not only the Fed but

reaction to the (Canadian) dollar as well," said Philip

Petursson, chief investment strategist at IG Wealth Management.

"If foreign investors don't want to absorb a weaker Canadian

dollar, then they're probably pulling out. And the view on the

dollar continues to be weaker, so that could be driving some of

the short-term market moves."

The Canadian dollar touched its weakest intraday level since

March 2020 at 1.4467 before clawing back some of its recent

declines. On Wednesday, the Fed signaled it would slow the pace

of interest rate cuts.

All ten major sectors ended lower. The materials group,

which includes fertilizer companies and metal mining shares, was

down 0.9% as the price of copper fell.

Oil also lost ground, settling nearly 1% lower at $69.91 a

barrel. Energy declined 0.8%.

Industrials were down 1.2%, including declines for railroad

shares. Real estate ended 1.5% lower as bond yields climbed.

The Canadian 10-year yield was up 13.2 basis points at

3.357%, its highest level since Nov. 25.

Canada's new Finance Minister Dominic LeBlanc said the

country's financial reserves are enough to support businesses

and individuals if the United States imposes a major new tariff.