CANADA STOCKS-TSX edges lower as energy shares, China data weigh

Thu Nov 13, 2014 10:40am EST
 
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* TSX down 15.20 points, or 0.10 percent, at 14,841
    * Six of 10 main index sectors advance
    * Energy shares drop 1.5 percent

    By John Tilak
    TORONTO, Nov 13 (Reuters) - Canada's main stock index
declined slightly on Thursday as sluggish Chinese data raised
concerns about growth in the world's second-biggest economy and
shares of energy producers followed oil prices lower.
    Figures showed that China's factory growth fell in October
and investment growth hit a near 13-year low. 
    Brent crude oil dropped to a four-year low, hit by the data
from China, a top energy consumer, and news that Saudi Arabia
was silent about a possible cut in production. 
    "Oil has broken down again. That's quite significant," said
Colin Cieszynski, chief market strategist at CMC Markets.
    "At this point, investors need to wait and see how far the
price of oil is going to fall," he added. "You need some kind of
tangible sign that the oil price is bottoming out, which we
aren't seeing yet."
    The Toronto Stock Exchange's S&P/TSX composite index
 was down 15.20 points, or 0.10 percent, at 14,841. Six
of the 10 main sectors on the index were higher.
    Shares of energy producers shed 1.5 percent. Canadian
Natural Resources Ltd lost 1 percent to C$41.50, and
Suncor Energy Inc declined 0.9 percent to C$39.50.
    Manulife Financial Corp fell 0.2 percent after
reporting slightly lower-than-expected third-quarter earnings as
weaker Canadian and U.S. insurance and wealth management sales
offset strong growth in Asia. 
    Later on Thursday, BlackBerry Ltd is expected to
outline tie-ups with carriers and service providers that will be
co-marketing the BlackBerry Enterprise platform, according to
industry sources..
    In morning trading, the stock jumped 2.8 percent, helping
drive a 1.4 percent gain in the information technology sector. 

 (Editing by W Simon)