CANADA STOCKS-TSX falls as big banks, energy stocks weigh

Thu Apr 27, 2017 11:49am EDT
 
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(Adds details on specific stocks, investor comment, updates prices)

* TSX down 166.22 points, or 1.06 percent, to 15,483.32

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

* Energy group down 2.5 pct, financials off 1.8 pct

TORONTO, April 27 (Reuters) - Canada's main stock index fell sharply on Thursday as its heavyweight banking and energy sectors took heavy losses, with oil prices weighing and an alternative lender's troubles putting the domestic housing market in focus.

Home Capital Group Inc said it had hired bankers to help it secure additional funding and size up its strategic options, as the subprime lender reported a further sharp decline in its assets amid a security regulator's probe into its disclosures.

Its shares popped 13.9 percent to C$6.82, offsetting some of Wednesday's 60 percent plunge, but the broader financial group - which accounts for a third of the index's weight - fell 1.8 percent.

"People are concerned that maybe this is the tip of the iceberg for the housing market," said Rick Hutcheon, president and chief operating officer at RKH Investments.

Royal Bank of Canada, the country's biggest bank, fell 1.8 percent to C$93.77, while Toronto-Dominion Bank lost 1.6 percent to C$64.70 and Bank of Nova Scotia shed 2.9 percent to C$75.20.   Continued...