April 25, 2016 / 3:17 PM / a year ago

CANADA STOCKS-TSX falls as energy, financial stocks retreat

2 Min Read

* TSX down 114.12 points, or 0.82 percent, to 13,759.88 points

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

TORONTO, April 25 (Reuters) - Canada's main stock index fell on Monday as lower oil prices weighed on energy stocks, while financial sector and industrial stocks also retreated as investor attention turned to the Federal Reserve interest rate meeting this week.

Energy stocks fell 2.2 percent, including a 1.9 percent decline in Suncor Energy Inc to C$35.62.

Shares of Precision Drilling Corp fell 5 percent to C$5.70. The rig contractor posted a first-quarter loss, compared with a profit a year earlier, hurt by lower demand for rigs amid a prolonged slump in oil prices.

Oil prices fell following three weeks of higher prices. U.S. crude prices were down 0.7 percent to $43.44 a barrel.

The most influential movers on the index included heavyweight bank stocks. Toronto-Dominion Bank fell 1.1 percent to C$55.56, while Bank of Nova Scotia was down 0.9 percent at C$64.68. The overall financials group declined 0.8 percent.

The industrials group also dragged, falling 1 percent, including losses for railway stocks.

At 10:54 a.m. EDT (1454 GMT), the Toronto Stock Exchange's S&P/TSX composite index fell 114.12 points, or 0.82 percent, to 13,759.88. Nine of the index's 10 main groups were lower.

Shares of Valeant Pharmaceuticals International Inc rose 3.8 percent to C$47.28. The company named Joseph Papa as its chief executive officer, the day after he resigned from the top spot at drugmaker Perrigo Co Plc.

Bombardier Inc rallied 4.4 percent to C$1.79. Reports that the company is involved in launching an airline in Iran are inaccurate, the Canadian planemaker said on Sunday, although it confirmed it was in talks for sales as its executive chairman visited the country to drum up business.

U.S. Federal Reserve policymakers are expected to hold interest rates steady when they meet this week, but may tweak their description of the economic outlook to leave the path open for future rate rises.

Reporting by Fergal Smith; Editing by Tom Brown

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