CANADA STOCKS-TSX slumps most since Sept as energy, bank stocks weigh

Fri Feb 24, 2017 5:24pm EST
 
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(Adds investment advisor comment, updates prices to close)

* TSX falls 247.73 points, or 1.57 percent, to 15,533.47

* All TSX's 10 main groups retreat in sharpest fall since Sept 13

* Energy group falls more than 3 percent

By Alastair Sharp

TORONTO, Feb 24 (Reuters) - Canada's benchmark stock index slumped on Friday, dropping by the most in over five months in a sharp pullback from a record high set earlier in the week, as heavily-weighted energy and financial stocks led a broad-based retreat.

The Toronto Stock Exchange's S&P/TSX composite index ended down 247.73 points, or 1.57 percent, at 15,533.47, its sharpest one-day loss since Sept. 13.

All of the index's 10 main industry groups finished in the red, with the energy and financials groups - which account for 55 percent of the index's weight - down 3.2 percent and 1.4 percent, respectively.

Investors struggled to explain the severity of the declines, which contrasted with small gains on Wall Street, but also did not express surprise or concern.   Continued...