CANADA STOCKS-TSX falls as grocers, consumer stocks battered by Amazon news

Fri Jun 16, 2017 12:00pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX down 15.87 points, or 0.1 percent, to 15,144.55

* Seven of the TSX's 10 main groups were down

* Consumer staples down 2.3 percent

* Consumer discretionary down 1.2 percent

By Solarina Ho

TORONTO, June 16 (Reuters) - Canada's main stock index fell on Friday, as shares of grocers and other consumer staple companies took a beating on news that internet retail company Amazon.com Inc was buying Whole Foods Market Inc .

Amazon announced before markets opened that it was purchasing the U.S. organic supermarket chain for $13.7 billion, including debt, marking its biggest foray into the brick-and-mortar retail sector.

The Canadian consumer staples sector tumbled as much as 3.36 percent in its sharpest fall since October 2008 before it pared losses to 2.3 percent.

The country's largest grocery chain operators all declined sharply.   Continued...