CANADA STOCKS-TSX ends lower for second day as financial, metal mining shares fall

By Fergal Smith

Sept 24 (Reuters) - Canada's main stock index edged lower on Wednesday, weighed by declines for financial and metal mining shares, as the approach of the end of the quarter spurred investors to take stock of recent strong gains for the market.

The S&P/TSX composite index .GSPTSE ended down 58.68 points, or 0.2%, at 29,756.95, extending its pullback from a record closing high on Monday. Still, the index was on track for a gain of 10.8% in the third quarter, which would be its fifth straight quarterly advance.

U.S. stocks also closed lower for a second straight session as investors booked profits with indexes near record levels after Federal Reserve Chair Jerome Powell flagged potentially stretched stock prices and ahead of a reading on inflation later in the week.

"Markets have gone up so much that they were due for a rest," said Colin Cieszynski, chief market strategist at SIA Wealth Management. "We're getting close to the end of the month and the end of the quarter and there's been nothing new in the way of news to keep the market going."

Heavily weighted financials lost 0.7% and the materials group .GSPTTMT, which includes fertilizer companies and metal mining shares, was down 0.8%. The price of gold XAU= declined 0.9%, pulling back from a record high.

Among the sectors that notched gains was energy .SPTTEN. It was up 1.3%, with shares of Vermilion Energy VET.TO adding 2.9%. The price of oil CLc1 settled 2.5% higher at $64.99 a barrel after a surprise drop in U.S. crude inventories added to the market's sense of tightening supplies.

Lithium Americas LAC.TO shares jumped 97.9% after Reuters reported that the Trump administration is seeking up to a 10% stake in the lithium company. It was the latest sign of Washington's intervention in industries it considers critical to national security.