TSX down on oil price fall, Fed jitters

Tue Oct 27, 2015 4:56pm EDT
 
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By Alastair Sharp

TORONTO (Reuters) - Canada's main stock index fell on Tuesday, hurt by a pullback in shares of the country's two main railways and losses among industrial, utility and energy stocks as oil fell to a multi-week low and investors braced for a Federal Reserve policy statement.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended down 91.30 points, or 0.66 percent, at 13,699.60.

The heavyweight financial sector was the only one of the index's 10 main groups to gain, and declining issues outnumbered advancers by a 3.5-to-1 ratio.

Canadian National Railway Co (CNR.TO: Quote) lost 2.8 percent to C$79.51, pulling back ahead of its earnings after a solid rally. It reported an 18 percent rise in profit after the bell, but said it expects commodity volumes to slip.

Its rival Canadian Pacific Railway (CP.TO: Quote) lost 4.7 percent to C$191.76.

The energy group lost 2 percent, while industrial stocks fell 2.9 percent and utilities gave up 1.7 percent.

Canadian Natural Resources (CNQ.TO: Quote) fell 2.5 percent to C$29.57 and Suncor Energy (SU.TO: Quote) lost 0.9 percent to C$36.71.

U.S. crude prices settled down 1.8 percent at $43.20 a barrel, while Brent LCOc1 lost 1.5 percent to $46.81.   Continued...

 
A man walks past an old Toronto Stock Exchange (TSX) sign in Toronto, June 23, 2014. REUTERS/Mark Blinch