CANADA STOCKS-TSX slides off 18-month high as oils slip

Tue Apr 6, 2010 5:21pm EDT
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* TSX falls 0.24 percent to 12,156.71

* C$ hits US$ parity, impact on equity markets muted

* Energy biggest laggard, down 0.64 pct, despite oil rise (Adds details)

By Ka Yan Ng

TORONTO, April 6 (Reuters) - Toronto's main stock index fell on Tuesday with the energy group the chief laggard as investors took profits after two sessions of gains.

The Canadian dollar was the standout piece of Canadian news as it hit parity with the U.S. dollar for the first time in more than 20 months. But the impact on Toronto stocks was muted. [CAD/] [ID:nN18199261]

"In the very short term we've run out of drivers to push the markets higher. We haven't yet seen any level of broad concern with regards to the Canadian dollar appreciation," said Elvis Picardo, analyst and strategist at Global Securities in Vancouver.

He added that the next market movers will likely be corporate earnings, which will start coming out in the next few weeks.

The price of oil had a seesaw session but settled higher for a sixth consecutive session, although the TSX's energy group, down 0.64 percent, failed to keep up with the commodity, an important Canadian export. [O/R]   Continued...