CANADA STOCKS-TSX turns lower as TD Bank and energy shares fall

Fri Mar 10, 2017 1:38pm EST
 
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(Updates prices throughout, adds response from Toronto-Dominion Bank)

* TSX down 35.86 points, or 0.23 percent, to 15,460.98

* Two of the TSX's 10 main groups fall

TORONTO, March 10 (Reuters) - Canada's benchmark stock index slipped in afternoon trade on Friday, with shares in Toronto-Dominion Bank (TD) falling sharply after CBC News reported that employees of the bank were being pressured to meet high sales revenue goals, traders said.

Shares in TD, Canada's No. 2 lender, fell as much as 5.3 percent to C$66.21, its biggest one-day decline since December 2014.

In an emailed response to Reuters regarding the CBC story, TD said, "The environment described in the media report is very much at odds with how we run our business, and we don't recognize it from our own perspective, experience or assessments."

The financials group slipped 0.9 percent, despite some of its biggest members moving higher as solid domestic jobs data broadly boosted bond yields.

The energy group retreated 0.7 percent, as oil prices fell further after sharp losses in the past two sessions. Canadian Natural Resources declined 1.6 percent to C$42.61 after jumping sharply on Thursday's news the company would buy significant oil sands assets from Royal Dutch Shell.

At 12:51 p.m. ET (1751 GMT), the Toronto Stock Exchange's S&P/TSX composite index fell 35.86 points, or 0.23 percent, to 15,460.98.   Continued...