Updates with morning prices, analyst quote

By Twesha Dikshit

July 24 (Reuters) - Canada’s benchmark index was little changed on Thursday, pressured by a decline in gold mining stocks, as investors monitored U.S. trade negotiations and assessed mixed corporate results.

The commodity-heavy S&P/TSX composite index .GSPTSE was flat at 27,391.88 points by 9:50 a.m. ET (1350 GMT), after reaching record highs the previous day.

Losses were led by a 1.2% drop in gold mining shares .SPTTGD, tracking a decline in safe-haven gold prices on hopes for progress in trade talks.

Orla Mining OLA.TO slid nearly 13%, weighing on the index, while IAMGOLD IMG.TO, Eldorado Gold ELD.TO and Seabridge Gold SEA.TO each lost more than 1.5% and ranked among the top decliners.

Other materials stocks .GSPTTMT also fell. Miner Teck Resources TECKb.TO dropped 3.4% after weaker-than-expected sales overshadowed a profit beat.

Investors awaited tariff-related developments after Japan reached a deal with the United States, while two European Union diplomats said the bloc was moving toward an agreement with Washington.

"The deadline is an imaginary deadline... a can that's been kicked down the road probably half a dozen times since these trade negotiations started," said Brian Madden, chief investment officer at First Avenue Investment Counsel.

"Markets are sort of learning the pattern of how this U.S. administration negotiates and anticipating no deal, but the deadline getting kicked down the road yet again."

Among individual stocks, Loblaw Companies L.TO rose 1.2% after beating second-quarter revenue and profit expectations, driven by robust demand for groceries and medicines.

FirstService FSV.TO led gains, rising 6.4% following strong quarterly results.

In contrast, Mullen Group MTL.TO dropped 3.6% after reporting its second-quarter results.

Property services firm FirstService FSV.TO was the top gainer adding 6.4% after posting second-quarter revenue and profits above expectations.

Conversely, Mullen Group shares dropped 3.6% after second-quarter results.

Canadian retail sales dropped 1.1% in May on a month-to-month basis due to lower sales at motor vehicle and parts dealers but likely increased 1.6% in June, Statistics Canada said in a flash estimate.

Meanwhile, Trump, who has frequently criticized Federal Reserve Chair Jerome Powell, is scheduled to visit the central bank on Thursday, ahead of next week's meeting at which rates are widely expected to be held steady.

(Reporting by Twesha Dikshit; Editing by Sahal Muhammed and Tasim Zahid)

((Twesha.Dikshit@thomsonreuters.com))