CORRECTED-CANADA STOCKS-TSX falls 1.2 pct as resources slump, Valeant fails to reassure

Mon Oct 26, 2015 5:15pm EDT
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(Corrects to show DH Corp fell ahead of, not after, earnings report in final paragraph)

* TSX ends down 162.76 points, or 1.17 percent, at 13,790.90

* Nine of index's 10 main groups fall

By Alastair Sharp

TORONTO, Oct 26 (Reuters) - Canada's main stock index fell on Monday as resources stocks weighed and investors remained skittish about Valeant Pharmaceuticals despite its attempts to address recent allegations made against it by an influential short-seller.

The Toronto Stock Exchange's S&P/TSX composite index ended down 162.76 points, or 1.17 percent, at 13,790.90.

Nine of the index's 10 main groups fell, led by a 5 percent retreat for the heavyweight energy group, a 4 percent loss for materials stocks, and a 5.2 percent drop in consumer staples.

The losses among resource stocks were much sharper than any slips in prices for the underlying commodities they extract, refine or transport.

"The month has been marked by this very strong move on very little information, and the market is now digesting it and saying 'there's not a lot here'," said John Stephenson, president at Stephenson & Company Capital Management.   Continued...