CANADA STOCKS-TSX stumbles on lower oil, weak data

Wed Sep 15, 2010 10:33am EDT
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*TSX down 26.36 points, or 0.22 percent, at 12,166.62

*Weak energy sector weighs on TSX

*Canada, U.S. data keeps index under pressure (Adds details, quote)

By Jennifer Kwan

TORONTO, Sept 15 (Reuters) - Toronto's main stock index fell on Wednesday morning after three days of gains as oil prices slipped and weak data splashed cold water on recent optimism about economic recovery.

The index's energy sector, down 0.6 percent, dropped as U.S. crude oil futures fell as traders expected Enbridge's (ENB.TO: Quote) big Canada-U.S. crude pipeline to restart soon. [O/R]

Suncor Energy (SU.TO: Quote) was down 0.8 percent to C$33.63, while Canadian Natural Resources (CNQ.TO: Quote) dropped 1.4 percent to C$34.36.

Also weighing on investor sentiment was economic data on both sides of the border, said Francis Campeau, broker at MF Global Canada, in Montreal.

Canadian manufacturing sales unexpectedly slid in July, reflecting weak U.S. demand for export goods such as cars and paper products, while U.S. industrial output rose at a slower pace in August and a measure of New York state business conditions slipped to the lowest level in more than a year.[ID:nN15446129] [ID:nN15145257]   Continued...