CANADA STOCKS-TSX falls as energy stocks and earnings disappointments weigh

Wed Oct 26, 2016 4:50pm EDT
 
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(Adds equity analyst comment, updates prices to close)

* TSX ends down 63.07 points, or 0.42 percent, at 14,807.56

* Six of the TSX's 10 main groups fall; energy off 0.8 percent

By Alastair Sharp

TORONTO, Oct 26 (Reuters) - Canada's main stock index fell on Wednesday as energy shares followed oil prices lower, a small financial technology company plunged after missing earnings expectations, and Canadian National Railway Co weighed after its revenue dipped.

The country's largest railway shed 3.8 percent to C$84.30 after its quarterly revenue fell as it moved lower volumes of crude oil, coal and fracking sand.

The industrials group lost 1.4 percent overall, while the technology group shed 2.9 percent, with financial technology company DH Corp slumping 43.4 percent to C$16.25 after its earnings missed expectations and several banks slashed their views on the company.

The heavyweight energy group lost 0.8 percent, with oil back below $50 a barrel as more doubts emerged about OPEC's ability to strike an effective deal to cut production next month.

"The stocks have had a hefty run, so it's not surprising when you see some concerns around OPEC coming together and then the National Energy Board making some comment, both of those put a negative view on the outlook, at least in the near term," said Brian Pow, equity analyst at Acumen Capital Partners in Calgary.   Continued...