February 2, 2016 / 3:17 PM / a year ago

CANADA STOCKS-Energy stocks lead broad TSX fall as oil price drops

2 Min Read

(Adds details, updates prices)

* TSX falls 229.4 points, or 1.81 percent, to 12,444.97

* Nine of the TSX's 10 main groups retreat

TORONTO, Feb 2 (Reuters) - Canada's main stock index fell on Tuesday, with financial and energy stocks weighing as crude oil prices dropped on renewed concern about oversupply.

The most influential movers on the index included its biggest bank by market capitalization, Royal Bank of Canada , which fell 1.9 percent to C$69.93, and the No. 1 oil and gas company, Suncor Energy Inc, which declined 4.4 percent to C$30.42.

The energy group retreated 4.5 percent. Canadian Natural Resources, another major player in the sector, tumbled 4.1 percent to C$27.90.

Imperial Oil Ltd declined 3.9 percent to C$40.20 after the country's No.2 integrated oil producer and refiner reported a lower-than-expected quarterly profit.

Oil fell 5 percent, dented by worries about the demand outlook and rising supply, while hopes for a deal between OPEC and Russia on output cuts faded.

At 9:57 a.m. EST (1457 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 229.4 points, or 1.81 percent, at 12,444.97.

Nine of the index's 10 main groups were in negative territory, with healthcare stocks bucking the trend.

There were just 10 gainers, heavily outnumbered by 226 decliners.

The index had gained more than 1,000 points since Jan. 20, when it hit its lowest since August 2012, but it has pulled back so far this week.

Brookfield Asset Management Inc shares declined 2.0 percent to C$40.68 after it withdrew an offer to buy a stake in infrastructure company Invepar.

The financials group slipped 1.7 percent, and industrials fell 2.3 percent.

Canadian Pacific Railway declined 2.7 percent to C$162.28. Democrats from Pennsylvania's congressional delegation sent a letter to a U.S. federal rail regulator on Monday raising concerns over the possible negative impacts of a merger between CP and Norfolk Southern Corp. (Reporting by Alastair Sharp; Editing by James Dalgleish)

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