CANADA STOCKS-TSX falls on lower oil prices, credit market uncertainty

Wed Feb 10, 2016 5:27pm EST
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(Adds portfolio manager comments, updates prices)

* TSX ended down 96.93 points, or 0.79 percent, at 12,185.72

* Five of the TSX's 10 main groups were lower

By Fergal Smith

TORONTO, Feb 10 (Reuters) - Canada's main stock index fell on Wednesday, hitting a two-week low as a drop in oil prices and credit market uncertainty weighed on energy and financial stocks.

The market closed lower for a fourth straight day despite reassurance from Federal Reserve Chair Janet Yellen about the U.S. economy's ability to absorb a gradual rise in interest rates.

The weak oil price "continues to put pressure on the index," said Youssef Zohny, a portfolio manager at StennerZohny Investment Partners.

U.S. crude prices fell 2 percent after stockpiles at the main U.S. delivery point hit record highs.

Canadian Natural Resources Ltd fell 2.7 percent to C$27.36, while Cenovus Energy Inc was down 8.4 percent at C$13.52. The overall energy group fell 2.7 percent.   Continued...