CANADA STOCKS-TSX falls as financials weigh, Fed rally fades

Fri Sep 23, 2016 10:52am EDT
 
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(Adds details on specific stocks, updates prices)

* TSX down 43.03 points, or 0.29 percent, at 14,754.15

* Half of the TSX's 10 main groups move lower

TORONTO, Sept 23 (Reuters) - Canada's main stock index fell on Friday as investors pulled back after a strong rally this week following the U.S. Federal Reserve's decision to hold rates steady and more cautious outlook.

The five most influential weights on the index were its biggest banks. The financial sector jumped in the prior two sessions after the Fed left the door open for a rate hike in December even as it indicated a less aggressive rise in rates next year and in 2018.

At 10:21 a.m. EDT (1421 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 43.03 points, or 0.29 percent, at 14,754.15.

It remains on track for a 2 percent weekly gain.

Royal Bank of Canada fell 0.6 percent to C$81.42 and Bank of Nova Scotia lost 0.7 percent to C$70.60.

The financials group, which accounts for 35 percent of the index's weight, slipped 0.6 percent overall.   Continued...