March 9, 2015 / 2:38 PM / 2 years ago

CANADA STOCKS-TSX declines as energy, BlackBerry shares drop

2 Min Read

* TSX down 57.05 points, or 0.38 percent, at 14,895.45

* All of 10 main index sectors decline

* BlackBerry drops 5.5 percent after Goldman downgrade

By John Tilak

TORONTO, March 9 (Reuters) - Canada's main stock index declined in choppy trading on Monday as energy shares fell on lower oil prices and smartphone maker BlackBerry Ltd dropped after a downgrade by Goldman Sachs.

BlackBerry was 5.5 percent lower at C$12.70, and the energy sector dropped 1 percent on continued weakness in crude prices.

"We are still concerned about how Canada is going to weather the energy storm. We just have to get ourselves through this," said Rick Hutcheon, president and chief operating officer at RKH Investments.

"If there's another month or two of relative stability in the energy sector, we probably could see some interest in M&A activity coming back," he added.

The Toronto Stock Exchange's S&P/TSX composite index was down 57.05 points, or 0.38 percent, at 14,895.45. All of the 10 main sectors on the index were in the red.

Among shares of energy producers, Suncor Energy Inc gave back 0.7 percent to C$36.67, and Encana Corp was trading down at C$14.63.

Monday's decline in the TSX index follows a selloff on Friday, when a strong U.S. jobs report increased concerns that the U.S. Federal Reserve might raise interest rates sooner than expected. The TSX index is down about 2.3 percent so far this month.

Among shares of energy producers, Suncor Energy Inc gave back 0.7 percent to C$36.67, and Encana Corp was trading down at C$14.63.

Financials, the index's most heavily weighted sector, slipped 0.2 percent. Manulife Financial Corp shed 0.3 percent to C$21.66, and Sun Life Financial Inc lost 0.6 percent to C$39.43.

$1=$1.26 Canadian Editing by Peter Galloway

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