CANADA STOCKS-TSX ends lower as banks weigh, energy shrugs off oil fall

Fri Apr 21, 2017 5:16pm EDT
 
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(Adds portfolio manager comment, updates prices to close)

* TSX ends down 11.08 points, or 0.07 percent, at 15,614.48

* Index notches 0.5 percent gain on the week

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

By Alastair Sharp

TORONTO, April 21 (Reuters) - Canada's main stock index ended barely lower on Friday as bank stocks pulled back with lower bond yields after weak inflation data and energy stocks shrugged off an oil slide to notch gains while SNC-Lavalin Group Inc rose on an acquisition move.

The Toronto Stock Exchange's S&P/TSX composite index ended down 11.08 points, or 0.07 percent, at 15,614.48. It gained 0.5 percent on the week.

The commodity-rich exchange was boosted by a 0.7 percent rise in energy stocks in the face of a sharp selloff in crude prices, with Suncor Energy Inc up 0.7 percent to C$40.94 and Cenovus Energy adding 2.4 percent to C$14.18.

"In the near term we quite like energy," said Mike Archibald, associate portfolio management at AGF Investments, pointing to expectations of solid earnings growth versus year-ago comparisons and recent outsized stock weakness versus oil's fall.   Continued...