CANADA STOCKS-TSX falls after central bank comment, Ottawa shooting

Wed Oct 22, 2014 11:16am EDT
 
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* TSX down 96.97 points, or 0.67 percent, at 14,450.74
    * Eight of 10 main index sectors decline
    * Energy shares fall with price of oil

    By John Tilak
    TORONTO, Oct 22 (Reuters) - Canada's main stock index fell
on Wednesday after a four-day winning streak as investors
digested monetary policy commentary from the Bank of Canada and
news of a shooting in Ottawa.
    A drop in the price of U.S. crude oil, which pulled
energy shares lower, also weighed.
    The Bank of Canada dropped any reference to taking a neutral
stance on interest rates, having already signaled it would
generally not give forward guidance on rate moves.
 
    Investors also processed reports that a gunman shot a
soldier at the Canadian War Memorial in Ottawa and was chased by
police into the main parliament building, where at least 30 more
shots were fired. ID:nL2N0SH19F]
    "We're in an environment where the market is very skittish.
The market is very nervous right now and is reacting to every
headline that comes out," said Allan Small, a senior investment
adviser at HollisWealth.
    He said it was unclear if the shooting had anything to do
with the stock market decline. 
    The benchmark index had rebounded in the previous four
sessions after hitting an eight-month low last week. 
    "Investor sentiment is mixed," Small said, referring to the
recent correction. "The savvy investor is looking at this as a
buying opportunity because the fundamentals are solid."
    The Toronto Stock Exchange's S&P/TSX composite index
 was down 96.97 points, or 0.67 percent, at 14,450.74.
Eight of the 10 main sectors on the index were in the red.
    Financials, the index's most heavily weighted sector, fell
0.8 percent. Royal Bank of Canada lost 0.9 percent to
C$79.34, and Bank of Nova Scotia dropped 1.4 percent to
C$67.01.
    Shares of energy producers shed 1 percent, reflecting a drop
in the price of U.S. crude oil. Suncor Energy Inc gave
back 1.2 percent to C$38.39, and Talisman Energy Inc 
was down 2 percent at C$7.57.

 (Editing by James Dalgleish)