CANADA STOCKS-TSX falls, pressured by losses for energy and financials

Wed Nov 2, 2016 11:06am EDT
 
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(Adds details throughout on stocks and sectors, updates prices)

* TSX down 91.64 points, or 0.62 percent, at 14,686.68

* Eight of the TSX's 10 main groups fall

TORONTO, Nov 2 (Reuters) - Canada's main stock index fell on Wednesday as lower oil prices weighed on the shares of energy companies and financials lost ground, offsetting gains for mining stocks as gold rose on U.S. election uncertainty.

The most influential movers on the index included some of its major energy pipeline companies. TransCanada Corp fell 4.7 percent to C$57.72 and Enbridge Inc declined 2.9 percent to C$55.80, while the overall energy group fell 1.6 percent.

Crude oil prices dropped for a fourth day as U.S. stockpile figures showed a much bigger-than-expected build in crude inventories. U.S. crude prices were down 3.0 percent at $45.27 a barrel,

Valeant Pharmaceuticals International Inc fell 5.9 percent to C$29.34. The drugmaker said it is in talks with third parties to sell its Salix stomach-drug business and other assets.

The heavyweight financials sector fell 0.5 percent, while information technology declined 0.7 percent.

At 10:59 a.m. EDT (1459 GMT), the Toronto Stock Exchange's S&P/TSX composite index fell 91.64 points, or 0.62 percent, to 14,686.68.   Continued...