3 Min Read
* TSX falls 62.14 points, or 0.4 percent, to 15,323.13
* Eight of the TSX's 10 main groups fall
TORONTO, Dec 14 (Reuters) - Canada's main stock index retreated on Wednesday from a 19-month high the previous day as lower oil prices weighed on energy shares, while financials also lost ground as investors braced for the Federal Reserve's interest rate decision.
The most influential movers on the index included some of the country's major energy stocks. Canadian Natural Resources Ltd fell 2.5 percent to C$44.69, while Suncor Energy Inc was down 0.6 percent at C$43.51.
The overall energy group fell 1 percent.
Oil prices pared some recent gains following a reported rise in U.S. crude inventories and as OPEC signaled a growing crude surplus next year unless production cuts are implemented.
U.S. crude prices were down 0.9 percent at $52.48 a barrel.
At 10:38 a.m. EST (1538 GMT), the Toronto Stock Exchange's S&P/TSX composite index fell 62.14 points, or 0.4 percent, to 15,323.13.
On Tuesday, the index touched its highest since May 2015 at 15,414.57.
Financial stocks declined 0.6 percent as bond yields fell. The sector has benefited recently from a jump in bond yields, which reduce the value of insurance companies' liabilities and increase net interest margins of banks.
Royal Bank of Canada retreated 0.7 percent to C$90.57, while Toronto-Dominion Bank was 0.6 percent lower at C$65.63.
Investors are certain the Fed will lift interest rates for the first time in a year but less so about what it may do in 2017.
Shares of Magna International Inc dropped 1.75 percent to C$59.36, weighing on the consumer discretionary group.
Just two of the index's 10 main groups rose, with the materials group, which includes precious and base metals miners and fertilizer companies, adding 0.8 percent.
Barrick Gold Corp advanced 1.3 percent to C$20.93 and Goldcorp Inc climbed more than 2 percent to C$17.75, while gold futures rose 0.5 percent to $1,162.8 an ounce.
Canadian home prices rose in November from a month earlier as prices continued to soar in Toronto, the biggest market, helping to drive household debt to another record, separate reports showed on Wednesday. (Reporting by Fergal Smith Editing by W Simon)