CANADA STOCKS-TSX falls as banks, natural resource companies weigh

Tue Aug 16, 2016 11:26am EDT
 
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(Updates prices)

* TSX down 59.53 points, or 0.4 percent, to 14,717.49

* Eight of the TSX's 10 main groups move lower

TORONTO, Aug 16 (Reuters) - Canada's main stock index fell on Tuesday, dragged lower by some mining and energy companies despite the advance of gold and global oil prices.

At 11:04 a.m EDT (1504 GMT), the Toronto Stock Exchange's S&P/TSX composite index fell 59.53 points, or 0.4 percent, to 14,717.49, reflecting the decline of U.S. stocks on Wall Street.

Eight of the TSX's main 10 groups were in negative territory.

Among the biggest drivers of the fall were a major gold miner, some of the country's biggest banks and a few major energy companies.

Barrick Gold Corp fell 2.3 percent to C$27.16, while oil and natural gas producer Canadian Natural Resources Ltd lost 0.9 percent to C$41.58.

The financials group slipped 0.4 percent, with Bank of Nova Scotia down 0.6 percent at C$66.43 and Bank of Montreal off 0.7 percent at C$83.44. Financials account for more than a third of the index's weight.   Continued...