April 14, 2015 / 3:18 PM / 2 years ago

CANADA STOCKS-TSX slips modestly in post-rally consolidation

* TSX falls 31.52 points, or 0.2 percent, to 15,352.07

* Nine of the 10 main sectors are lower

By Solarina Ho

TORONTO, April 14 (Reuters) - Canada’s main stock index fell broadly on Tuesday as investors took profits on Tuesday after touching a seventh-month intraday high in the previous session.

The TSX ended a seven-day win streak on Monday, after touching 15,446.45 at one point during the session, its highest level since around mid-September.

“The markets ... continue to consolidate the recent rally,” said Fergal Smith, managing market strategist at Action Economics. “The energy sector has been a positive driver, and that’s helped by the firming (U.S.) crude oil above $52 a barrel.”

Energy stocks, supported by higher crude prices, tempered losses, climbing 1 percent, with the top 11 most influential gainers all oil and gas companies. Encana Corp rose 1.2 percent to C$14.73, while Arc Resources Ltd climbed 2.5 percent to C$23.66.

At 10:52 a.m. EDT (1452 GMT), the Toronto Stock Exchange’s S&P/TSX composite index fell 31.52 points, or 0.2 percent, to 15,352.07.

Among the index’s 10 main sectors, only energy was trading higher. Overall, advancing issues outnumbered declining ones by 122 to 117, for a 1.04-to-1 ratio on the upside.

Smith said risks for the equity market remained Greece debt and uncertainty over the U.S. economic outlook and what that means for the Federal Reserve.

The most influential decliners on the index were Canada’s two largest rail operators, Canadian National Railway Co , which fell 1.57 percent to C$81.71, and Canadian Pacific Railway Ltd, which declined 2.4 percent to C$230.64.

The two company’s shares were hit after analysts cut their price targets. The overall industrials group retreated 1.0 percent.

The materials group, home to mining companies, were off 0.3 percent, as lower resource prices weighed.

Base metal prices touched near a four-week low amid a strong greenback and growing concerns over demand from China. The country, one of the world’s biggest resource consumers, is set to give an update on its economic growth. Copper prices declined 0.9 percent to $5,939.

Media and cable company Shaw Communications Inc was also a major decliner after the company, hurt by a slide in video subscriptions, reported a 24 percent slide in profit. Shares were down 3.5 percent at C$27.90. (Reporting by Solarina Ho; Editing by Jonathan Oatis)

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