CANADA STOCKS-TSX falls more than 100 points as oil prices dive

Wed Mar 8, 2017 4:57pm EST
 
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(Adds portfolio manager quotes and details on U.S. jobs data and Bombardier and updates prices)

* TSX closes down 111.8 points, or 0.72 percent, at 15,496.98

* Energy sector falls nearly 4 percent

* Eight of the index's 10 main groups end lower

By Fergal Smith

TORONTO, March 8 (Reuters) - Canada's benchmark stock index fell more than 100 points on Wednesday as a sharp drop in oil prices weighed on energy shares, while the financial and industrial groups also lost ground.

U.S. crude prices settled more than 5 percent lower at $50.28 a barrel as U.S. crude inventories surged to a record high, stoking concerns that a global glut could persist.

Major energy company Canadian Natural Resources Ltd fell 4.6 percent to C$39.43, while the overall energy sector tumbled nearly 4 percent, posting its lowest close since September. The sector is now down 12 percent since the start of the year.

The Toronto Stock Exchange's S&P/TSX composite index closed down 111.8 points, or 0.72 percent, at 15,496.98. It was just the second time the index has fallen by more than 100 points since January.   Continued...