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

Tue Apr 6, 2010 4:37pm 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 (Updates to close)

By Ka Yan Ng

TORONTO, April 6 (Reuters) - Toronto's main stock index fell broadly 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 on Tuesday 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.

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]

Talisman Energy TLM.TO dropped 1.9 percent to C$17.83, while Imperial Oil (IMO.TO: Quote) lost 1.8 percent to C$40.95.   Continued...