CANADA STOCKS-TSX falls as banks, energy stocks weigh

Tue Feb 9, 2016 10:44am EST
 
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(Updates prices)

* TSX down 171.25 points, or 1.37 percent, at 12,364.15

* Eight of the TSX's 10 main groups fall

TORONTO, Feb 9 (Reuters) - Canada's main stock index on Tuesday fell to its lowest since late January, again weighed down by bank and energy company shares as investors globally retreat from equity markets.

The most influential movers on the index were its heavyweight banks, with the financials group down 1.4 percent overall, while the energy sector retreated 1.8 percent, extending Monday's losses.

Those two sectors account for a combined 56 percent weighting of the Toronto Stock Exchange's S&P/TSX composite index market. In all, eight of the TSX's 10 main sectors fell.

Faced with record low prices for heavy crude, Canadian energy companies are sacrificing other parts of their business to keep higher-cost oil sands production going and safeguard the billions already invested in these multi-decade projects.

Suncor Energy Inc lost 2.1 percent to C$30.71 and Canadian Natural Resources fell 2.5 percent to C$28.50.

Royal Bank of Canada fell 1.3 percent to C$68.36, Toronto-Dominion Bank declined 1.4 percent to C$50.77 and Bank of Nova Scotia fell 1.8 percent to C$54.66.   Continued...