CANADA STOCKS-TSX falls with energy stocks; financials up on bank results

Thu Feb 25, 2016 10:41am EST
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* TSX down 37.85 points, or 0.3 percent, to 12,702.42

* Six of the TSX's 10 main groups lower

TORONTO Feb 25 (Reuters) - Canada's main stock index fell on Thursday as energy stocks sagged with oil prices, offsetting a rise in financials stocks following decent bank earnings.

Shares in Canadian Imperial Bank of Commerce jumped 2 percent to C$89.22 after the bank beat on profit and raised its dividend, although, like other lenders that reported this week, CIBC reported rising bad loans in the oil and gas sector.

Its larger rival Toronto-Dominion Bank rose 0.9 percent to C$51.68 as its U.S. presence benefited from a weak Canadian dollar and wholesale banking profit fell.

The overall financials group gained 0.3 percent, while the energy group retreated 1.5 percent.

Oil prices were driven lower by persisting oversupply in a slowing global economy, extending losses after data pointed to rising stocks at a major refinery.

Canadian Natural Resources declined 2 percent to C$26.78, while TransCanada Corp fell 4.1 percent to C$48.72 and Enbridge Inc lost 2 percent to C$42.32.

At 10:00 a.m. EST (1500 GMT), the Toronto Stock Exchange's S&P/TSX composite index fell 37.85 points, or 0.3 percent, to 12,702.42.   Continued...