CANADA STOCKS-TSX lower as uncertainty reigns, industrials weigh

Thu May 28, 2015 5:06pm EDT
 
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(Adds strategist comment, details; updates prices to close)

* TSX ends down 3.47 points, or 0.02 percent, at 15,107.00

By Alastair Sharp

TORONTO, May 28 (Reuters) - Canada's main stock index pulled back on Thursday as investor caution about economic growth, geopolitical uncertainty and interest rate trajectories overpowered stronger-than-expected earnings from three of the country's biggest lenders.

The most influential falls came from Canadian Pacific Railway Ltd, which fell 4.1 percent to C$208.80, and Toronto-Dominion Bank, which declined 1.1 percent to C$55.37 despite posting a surprisingly strong quarterly profit.

"Today is another example of investor confusion about which way to turn," said Julie Brough, vice president at Morgan Meighen & Associates, citing myriad worries from a possible Greek default to Middle East violence to Fed rate hikes.

"Nobody's feeling exuberant right now. It's a cautious attitude that's taken hold," she said.

The Toronto Stock Exchange's S&P/TSX composite index ended down 3.47 points, or 0.02 percent, at 15,107.00.

Brough said Canadian Pacific's fall was likely a direct hit from the loss of traffic it will suffer as Teck Resources temporarily shuts its six Canadian coal mines.   Continued...