CANADA STOCKS-TSX pauses ahead of Fed, frets about Greece

Tue Jun 16, 2015 4:57pm EDT
 
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(Adds strategist comment, updates prices to close)

* TSX ends down 3 points, or 0.02 percent, at 14,753.05

* Half of the TSX's 10 main groups fall

By Alastair Sharp

TORONTO, June 16 (Reuters) - Canada's main stock index treaded water on Tuesday as a bump in crude oil prices boosted energy stocks while investors fretted about the Greek debt crisis and awaited the Federal Reserve's looming interest rate decision.

Some miners and industrial stocks in the Toronto Stock Exchange's S&P/TSX composite index, which has been grinding slowly lower since April, dropped sharply as gold, iron ore and copper markets fell.

"Greece will continue to be a dark cloud for the coming weeks as it tries to resolve its debt problems," said Sadiq Adatia, chief investment officer at Sun Life Global Investments.

Greece's prime minister accused creditors of trying to humiliate the country, with financial markets reacting with mounting alarm as an exit from the euro appears more likely.

Adatia said the issue of when the Fed will start to raise interest rates was adding to uncertainty and that the outlook for the Canadian economy was dim.   Continued...