CANADA STOCKS-TSX hit as bank shares spooked by Home Capital woes
* TSX down 143.07 points, or 0.91 percent, to 15,506.47
* Seven of the TSX's 10 main groups move lower
* Financials off 1.7 pct, energy group down 1.6 pct (Updates with closing share prices)
TORONTO, April 27 (Reuters) - Canada's benchmark stock index closed nearly 1 percent lower on Thursday, pulled lower by heavyweight banking stocks after an alternative lender's funding troubles raised concerns about the health of the housing market.
The Toronto Stock Exchange's S&P/TSX composite index fell 143.07 points, or 0.91 percent, to end at 15,506.47. Seven of the index's 10 main industry groups were in the red.
Home Capital Group Inc, hit by a series of adverse news including a regulatory probe into its disclosures, said it had hired bankers to help it secure additional funding and size up its strategic options.
"It's a crisis affecting a company which happens to be operating in the mortgage market," said Fred Demers, chief macro strategist at TD Securities, who did not think there was a risk of contagion such as the one experienced during the 2008-09 financial crisis.
Home Capital shares popped 33.9 percent to C$8.02, offsetting some of Wednesday's 60-percent plunge, but the broader financial group - which accounts for a third of the index's weight - fell nearly 1.7 percent and had at one point touched four-month lows.
Seven of the index's 10 biggest drags were financial stocks. Royal Bank of Canada, the country's largest bank, shed 1.9 percent to C$93.66, while Toronto-Dominion Bank lost 2.4 percent to C$64.17 and Bank of Nova Scotia stumbled 2.7 percent to C$75.31. Continued...