CANADA STOCKS-TSX slips ahead of Fed decision, resources drag

Mon Sep 14, 2015 11:36am EDT
 
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(Updates throughout with analyst comments, details, market moves)

* TSX was down 42.94 points, or 0.32 percent, at 13,418.53

* Eight of the TSX's 10 main groups lower

By Solarina Ho

TORONTO, Sept 14 (Reuters) - Canada's main stock index fell on Monday as investors positioned themselves ahead of the Federal Reserve decision this week, while commodity prices, under pressure from the latest tepid data out of China, dragged on resource stocks.

The Fed had been indicating it planned to hike rates at some point this year, but recent worries about global growth and lackluster Chinese economic data have raised the possibility the U.S. central bank could delay any increase to next year.

"It's mostly red, really. Financials are a little bit better. 'Will they, or won't they' this week? That's going to be the dominant theme more than anything else," said John Ing, president of Maison Placements Canada.

"It looks to us that the markets in next few months will be increasingly volatile, and that volatility will chase a lot of investors to the sidelines."

Suncor Energy Inc was among the bigger drags on the index, falling 1.1 percent to C$33.70. The overall energy group retreated 1 percent, in step with lower crude prices.   Continued...