CANADA STOCKS-TSX falls as lower oil prices weigh on energy shares

Mon Oct 24, 2016 11:20am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds details on stocks and sectors throughout, updates prices)

* TSX down 48.27 points, or 0.32 percent, at 14,890.77

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

TORONTO, Oct 24 (Reuters) - Canada's main stock index fell on Monday as lower oil prices weighed on energy shares and as Restaurant Brands International Inc declined after reporting quarterly earnings.

The owner of Burger King and Tim Hortons reported a second straight quarter of decline in comparable sales at Burger King in the United States and Canada. Restaurant Brands International shares fell 3.3 percent to C$60.55.

Toronto-Dominion Bank and TD Ameritrade are buying Scottrade Financial Services for $4 billion in a deal that would combine two of the biggest U.S. discount brokerages, the companies said. Shares of Toronto-Dominion Bank rose 0.5 percent to C$60.30.

The biggest drags on the index included some of the country's major energy pipeline companies. Enbridge Inc fell 1.3 percent to C$58.00 and TransCanada Corp declined 1.6 percent to C$61.82.

The overall energy group declined 0.4 percent as oil prices fell.

U.S. crude prices were down 1.3 percent to $50.17 a barrel as Iraq said it wanted to be exempt from a deal by the Organization of the Petroleum Exporting Countries to cut production.   Continued...