CANADA STOCKS-TSX falls as earnings misses, oil price fall weigh

Wed Oct 26, 2016 10:29am EDT
 
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(Adds details on individual stocks, updates prices)

* TSX down 52.93 points, or 0.36 percent, at 14,817.70

* Six of the TSX's 10 main groups up; energy off 1.4 pct

TORONTO, Oct 26 (Reuters) - Canada's main stock index fell in morning trade on Wednesday as energy shares followed oil prices lower, a small financial technology company plunged after its earnings missed expectations, and the country's largest railway posted a fall in revenue.

The energy group retreated 1.4 percent, with oil back below $50 a barrel as U.S. inventories rose and more doubts emerged about OPEC's ability to strike an effective deal to cut production next month.

Canadian National Railway Co declined 2.7 percent to C$85.3 after it said quarterly revenue fell as it moved lower volumes of crude oil, coal and fracking sand.

The industrials group lost 1 percent overall, while the technology group slipped 2.3 percent, with financial technology company DH Corp slumping 38 percent to C$17.79 after its earnings missed expectations and several banks slashed their views on the company.

At 9:58 a.m. EDT (1358 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 52.93 points, or 0.36 percent, at 14,817.70.

While six of the index's 10 main groups were in positive territory, decliners outnumbered advancers by 1.7-to-1 overall.   Continued...