CANADA STOCKS-TSX falls; investors assess domestic and US inflation data

By Twesha Dikshit and Sukriti Gupta

July 15 (Reuters) - Canada's benchmark index fell on Tuesday, dragged by heavyweight mining shares, as investors assessed key domestic and U.S. inflation data.

Toronto's S&P/TSX composite index .GSPTSE fell 0.4% to 27,160.74 points, after briefly hitting a fresh intraday record high earlier in the session.

Canada's annual inflation rate rose to 1.9% in June as expected by analysts, with automobiles, clothing and footwear adding to the hike in the index.

In the U.S., CPI data showed that prices increased in June as expected, with the Federal Reserve likely to keep rates unchanged in July while monitoring inflation pressures.

On TSX, heavyweight mining .GSPTTMT shares fell 0.9% tracking a fall in gold prices.

Gold miner Lundin Gold LUG.TO fell 2.4%; Alamos Gold AGI.TO and Agnico Eagle Mines AEM.TO were both down about 1% each.

Energy .SPTTEN stocks fell 0.5%, financials .SPTTFS were down 0.4% and consumer staples .GSPTTCS declined 0.9%.

However, utilities .GSPTTUT rose 0.1%, led by a 3.3% rise in Brookfield Renewable Partners LP BEP_u.TO after parent company Brookfield Asset Management BAM.TO signed a $3 billion hydropower agreement with Google GOOGL.O.

Despite President Donald Trump's renewed tariff threats, markets are focusing on a breakthrough from negotiations with U.S. trade partners.

Hopes were raised after Trump on Monday signaled willingness to talk with the European Union and other trading partners.

"A lot of it just keeps coming back to trade and trade negotiations. The president has set an August 1st deadline to make deals and he said that he's going to be firm on that ... so it's all about trade," said Allan Small, Senior Investment Advisor at Allan Small Financial Group.

In company news, U.S. crypto miner Riot Platforms RIOT.O on Monday reported beneficial ownership of 10.29% in Canadian bitcoin miner Bitfarms BITF.TO. Shares of Bitfarms fell 3.4%.