CANADA STOCKS-TSX plays defense as oil price falls to near 2009 low

Mon Aug 17, 2015 4:42pm EDT
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(Adds portfolio manager comment, updates prices to close)

* TSX ends down 26.35 points, or 0.18 percent, at 14,251.53

* Six of the TSX's 10 main groups fall

By Alastair Sharp

TORONTO, Aug 17 (Reuters) - Canada's main stock index retreated on Monday, with heavyweight energy and banking stocks reacting negatively to a fall in the price of U.S. crude to near a 2009 low and disappointing data from Japan and New York.

Gains among gold miners limited the overall losses, with the Toronto Stock Exchange's S&P/TSX composite index ending the day down 26.35 points, or 0.18 percent, at 14,251.53. Six of its 10 main sectors declined.

The energy sector fell 1.8 percent, with Suncor Energy Inc down 1.8 percent at C$36.60, as U.S. crude prices fell 1.5 percent to $41.87 a barrel and Brent crude lost 0.9 percent to $48.74.

"It's in a very nervous place right now, if it (the price of oil) breaks down a couple more dollars it could be very, very ugly," said John Kinsey, a portfolio manager at Caldwell Securities.

Crude slipped after Japan said its economy shrank in the second quarter, while China's slowing growth is also causing concern.   Continued...