CANADA STOCKS-TSX pares losses as financials turn higher; energy falls

Wed Jun 1, 2016 6:40pm EDT
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(Adds analyst quote, details on market's performance, updates prices)

* TSX ended down 2.24 points, or 0.02 percent, at 14,063.54

* Five of the TSX's 10 main groups ended lower

By Fergal Smith

TORONTO, June 1 (Reuters) - Canada's main stock index pared most of its losses on Wednesday, rebounding from an earlier one-week low as financials turned higher, while energy stocks retreated ahead of a meeting this week of major oil producers.

Energy stocks fell 1.1 percent as investors turned cautious ahead of Thursday's meeting of the Organization of the Petroleum Exporting Countries, or OPEC.

Suncor Energy Inc declined 1.6 percent to C$35.36, while U.S. crude prices settled down 9 cents at $49.01 after some losses were pared.

"I think we could see a bit of a trading correction over the next few weeks. There's a lot of big events that can rock the markets," said Colin Cieszynski, senior market analyst at CMC Markets Canada, who mentioned the OPEC meeting, the upcoming Federal Reserve interest rate decision and the Brexit vote in the United Kingdom.

The Toronto Stock Exchange's S&P/TSX composite index ended down 2.24 points, or 0.02 percent, at 14,063.54. It touched its lowest since May 24 at 13,959.59.   Continued...