CANADA STOCKS-Oil price fall leads to first TSX slip in 6 sessions

Wed Feb 18, 2015 4:40pm EST
 
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* TSX ends down 71.86 points, or 0.47 percent, at 15,212.75

* Five of 10 main index sectors decline

* Canadian Natural, Suncor fall with oil price

By Alastair Sharp

TORONTO, Feb 18 (Reuters) - Canada's main stock index slipped on Wednesday, its first decline in six sessions, as shares of oil and gas companies were weighed down by the stalling momentum of a recent rally in the price of oil.

Investors took some comfort from the minutes of the U.S. Federal Reserve's last meeting, which showed policymakers were concerned about raising interest rates too quickly.

"If the (U.S.) dollar backs off a little bit and crude oil continues to gain some traction at these prices, that can only be positive for the TSX," said Elvis Picardo, strategist at Global Securities in Vancouver.

That is not what happened on Wednesday, however, with oil's comeback rally halted as traders took stock of a 35 percent gain over the past month.

Picardo said more turbulent times are likely on the horizon.   Continued...