CANADA STOCKS-TSX falls as oil slide, Fed rate hike risk weigh

Wed Nov 4, 2015 4:59pm EST
 
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(Adds strategist comment, details, updates prices to close)

* TSX ends down 48.49 points, or 0.35 percent, at 13,661.82

* Materials group down 1.4 percent, energy slip 0.6 percent

By Alastair Sharp

TORONTO, Nov 4 (Reuters) - Canada's main stock index fell on Wednesday as Federal Reserve Chair Janet Yellen's comments in support of a possible U.S. interest rate hike in December broadly weighed on equity markets and commodity prices.

The Toronto Stock Exchange's S&P/TSX composite index ended down 48.49 points, or 0.35 percent, at 13,661.82, with resource stocks particularly hard hit.

The materials group fell 1.4 percent and energy stocks slipped 0.6 percent, as gold slid to a one-month low and oil fell 4 percent.

"The market's reacted as if the Fed could raise rates in December, and as a result you saw a sell-off in both the U.S. market and in the Canadian market, you saw a sell-off in gold, you saw the sell-off in energy prices," said Macan Nia, a director for capital markets and strategy at Manulife Asset Management.

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