CANADA STOCKS-TSX slips as cheaper oil, Kinder Morgan cast cloud on energy stocks

Tue May 30, 2017 5:07pm EDT
 
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(Updates market moves to close, adds analyst comment, details on Kinder Morgan)

* TSX down 49.56 points, or 0.32 percent, to 15,372.35

* Half of the TSX's 10 main groups fall

* Energy stocks fall 1.6 percent, financials off 0.3 percent

By Solarina Ho

TORONTO, May 30 (Reuters) - Canada's main stock index fell on Tuesday amid broad declines among oil and gas companies, hurt in part by a slide in crude oil prices and political tension in Western Canada over a Kinder Morgan pipeline project.

The Toronto Stock Exchange's S&P/TSX composite index fell 49.56 points, or 0.32 percent, to 15,372.35. Five of the index's 10 main groups ceded ground.

The index's most influential movers included Canadian natural Resources, which retreated 1.7 percent to C$39.13, and Encana Corp which slumped 5.2 percent to C$13.53. The energy group, which makes up about a fifth of the index, fell 1.6 percent.

Shares in Kinder Morgan Canada Ltd closed at C$16.24 after debuting at C$16.06 on the TSX after raising C$1.75 billion ($1.3 billion) in an initial public offering (IP0) at C$17.00 each last week.   Continued...