CANADA STOCKS-TSX falls most in month as energy stocks slump

Tue Aug 2, 2016 4:44pm EDT
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(Adds portfolio manager comment, updates prices to close)

* TSX ends down 105.73 points, or 0.73 percent, at 14,477.01

* Eight of the TSX's 10 main groups fall, energy off 2.4 percent

By Alastair Sharp

TORONTO, Aug 2 (Reuters) - Canada's main stock index suffered its biggest one-day fall in more than a month on Tuesday, with energy stocks slumping 2.4 percent as fears of an oil supply glut haunted investors.

Oil prices turned lower, dragging U.S. crude below $40 a barrel on persistent worries of a glut after peaking above $50 in early June.

"That definitely weighs on sentiment, especially where Canadian investors are concerned," said Elvis Picardo, strategist at Global Securities in Vancouver.

Energy stocks accounts for almost one-fifth of the index's weight.

The most influential drags included major oil and gas producers Suncor Energy Inc, which fell 3.1 percent to C$34.06, Cenovus Energy, which lost 4 percent to C$17.95, and Canadian Natural Resources Ltd, down 1.9 percent at C$38.79.   Continued...