CANADA STOCKS-TSX pulls back on weak oil prices, profit-taking

Tue Nov 10, 2009 4:20pm EST
 
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 * TSX ends down 0.52 percent at 11,426.74
 * Retreat ends five-day rally
 (Updates to close, adds quote)
 By Jennifer Kwan
 TORONTO, Nov 10 (Reuters) - Toronto's main stock index fell
on Tuesday for the first time in six sessions as investors
cashed in recent profits and weak oil prices pressured energy
companies like EnCana Corp ECA.TO and Canadian Natural
Resources CNQ.TO.
 EnCana led all decliners, falling 2 percent to C$61.50
while Canadian Natural Resources was off 1.8 percent at
C$70.82. These stocks made up the biggest drags on the index as
the price of oil CLc1 fell to around $79 a barrel. [O/R]
 Key decliners also included financial names such as
Manulife Financial MFC.TO, down 1.6 percent at C$20.71, and
Toronto Dominion Bank TD.TO, which fell 0.66 percent to
C$66.15.
 The S&P/TSX composite index .GSPTSE ended down 60.14
points, or 0.52 percent, at 11,426.74, with eight of its 10
main groups lower.
 "New York is flat so it's not doing very much; the
financials here are a little bit weaker but they were firmer
yesterday. Gold is pausing because they had a big run. Oil is
down a little bit," said John Kinsey, portfolio manager at
Caldwell Securities Ltd.
 "You can call it what you want. If you want to call it
profit-taking. It's just a pause."
 ($1=$1.05 Canadian)
 (Reporting by Jennifer Kwan; editing by Rob Wilson)