CANADA STOCKS-TSX little changed as energy shares slip with oil price

Fri Sep 12, 2014 4:30pm EDT
 
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* TSX up 2.74 points, or 0.02 percent, at 15,531.58
    * Six of 10 main index sectors advance
    * Talisman, Enbridge fall with oil price

    By John Tilak
    TORONTO, Sept 12 (Reuters) - Canada's main stock index was
little changed on Friday as a decline in the energy sector,
prompted by a fall in oil's price, was offset by positive
economic data from the United States.
    Energy share prices extended their drop on concerns over
increasing supply and weak demand, with the price of oil
slumping to a two-year low this week. 
    Data showed that U.S. retail sales rose broadly in August,
helping ease some concerns about consumer spending.
 
    Investors also braced themselves for two potential market
catalysts next week: the outcome of the Scottish referendum on
independence and monetary policy commentary following a U.S.
Federal Reserve meeting.
    "Investors are concerned about the actual timing of the rate
hike in the United States. That will be a major factor on
investor sentiment going forward," said Elvis Picardo,
strategist and vice president of research at Global Securities
in Vancouver.
    The market is speculating that the Fed might provide more
details about when it could be raising interest rates, he added.
    The Toronto Stock Exchange's S&P/TSX composite index
 closed down 2.74 points, or 0.02 percent, at
15,531.58. The benchmark TSX, which has gained about 14 percent
this year, ended the week lower. 
    Six of the 10 main sectors on the index were higher on
Friday.
    Financials, the index's most heavily weighted sector, added
0.4 percent, with Toronto Dominion Bank advancing 0.3
percent to C$57.77 and Bank of Montreal rising 0.2
percent to C$84.58.
    Shares of energy companies lost 0.4 percent, with Talisman
Energy Inc giving back 1.9 percent to C$10.64 and
Enbridge Inc declining 1.4 percent to C$55.12.

 (Editing by James Dalgleish and Jonathan Oatis)