CANADA STOCKS-TSX slips with oil; awaits U.S. election result

Tue Nov 8, 2016 10:37am EST
 
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* TSX falls 16.81 points, or 0.11 percent, to 14,635.64

* Seven of the TSX's 10 main groups move lower

TORONTO Nov 8 (Reuters) - Canada's main stock index slipped on Tuesday as a fall in oil prices weighed on energy stocks and investors braced for the outcome of one of the most contentious U.S. presidential elections in history.

Meanwhile, Valeant Pharmaceuticals International Inc slumped 20.2 percent to C$20.37 after the drugmaker cut guidance for the year and warned that 2017 could be even more challenging as some products face new competition.

At 10:21 a.m. EDT (1521 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 16.81 points, or 0.11 percent, at 14,635.64. Seven of the index's 10 main groups were in negative territory.

The index posted its biggest gain in nearly three weeks on Monday, helped after the FBI announced on Sunday that it had not changed its conclusion that Democratic nominee Hillary Clinton should not be charged over her use of a private email server.

Clinton, seen by investors as offering greater certainty and stability, has a 90 percent chance of defeating Republican nominee Donald Trump, according to the final Reuters/Ipsos States of the Nation poll released on Monday.

On Tuesday, the energy group retreated 0.6 percent as oil prices eased, with Canadian Natural Resources Ltd falling 0.9 percent to C$40.26 and Suncor Energy Inc shedding 0.5 percent to C$39.90.

Industrials fell 0.4 percent, with Canadian Pacific Railway Ltd down 1.4 percent to C$189.14 and Canadian National Railway Co declining 0.8 percent to C$84.23.   Continued...