CANADA STOCKS-TSX slips as energy boost offset by banks, Valeant

Thu Aug 18, 2016 5:25pm EDT
 
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(Adds analyst comment, Valeant reversal, updates prices to close)

* TSX ends down 1.92 points, or 0.01 percent, at 14,695.68

* Six of 10 sectors fall; advancers outnumber fallers by 1.2-to-1

* Valeant reverses course after fund sues over "fraudulent scheme"

By Alastair Sharp

TORONTO, Aug 18 (Reuters) - Canada's main stock index ended barely lower on Thursday as energy stock gains on higher oil prices were offset by weakness in bank shares and some consumer and telecommunications names and a reversal in Valeant Pharmaceuticals International Inc.

The Toronto Stock Exchange's S&P/TSX composite index settled down 1.92 points, or 0.01 percent, at 14,695.68. Advancers outnumbered decliners by a ratio of 1.2-to-1.

The heavyweight energy group climbed 1.3 percent, with Suncor Energy Inc up 0.9 percent to C$36.64 and Encana Corp jumping 5.9 percent to C$12.95, as Brent crude rose above $50 a barrel for the first time in six weeks.

But six of the index's 10 main groups ended lower, including a 0.5 percent fall for financials and a 0.7 percent loss for the smaller consumer staples group.   Continued...