CANADA STOCKS-Oil selloff triggers biggest TSX drop in 20 months

Mon Jan 5, 2015 4:46pm EST
 
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* TSX down 360.95 points, or 2.45 percent, at 14,392.70

* Nine of 10 main index sectors decline

* Canadian Natural plunges 6.9 percent

* Falling copper prices weigh on First Quantum

By John Tilak

TORONTO, Jan 5 (Reuters) - Canada's main stock index recorded its biggest single-day percentage drop in about 20 months, tumbling nearly 2.5 percent on Monday, as a deepening selloff in oil prices hit shares of energy companies.

Nine of the 10 main sectors on the Toronto equity index were trading in the red. The benchmark, which managed to record a modest gain in 2014, has been held back by the energy group.

The energy sector shed 6.5 percent in the session and has lost about a third of its value in the last six months. Oil prices plunged to a 5-1/2-year low on persistent concerns about oversupply.

Investors are trying to assess the impact of the recent pullback on both the economy and equity markets.   Continued...