CANADA STOCKS-TSX slides as resource shares drop, profit-taking hits railways

Tue Apr 21, 2015 11:26am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds updated prices, details and analyst's comment)

* TSX down 66.32 points, or 0.43 percent, at 15,346.28

* Six of the 10 main index groups fall

* Industrials off 1.2 percent

* Energy issues off 0.9 percent

By Solarina Ho

TORONTO, April 21 (Reuters) - Canada's main stock index fell on Tuesday as wary investors shied away from energy stocks as oil prices dipped and took profits on Canadian railways after they reported stronger than expected quarterly results.

Shares in the country's two main railways, Canadian National Railway Co and Canadian Pacific Railway Ltd, rose on Monday ahead of their first-quarter earnings reports. On Tuesday, CN Rail, the most influential mover on the index, declined 3.1 percent to C$80.75, after climbing nearly 3 percent the day before. CP Rail fell 0.8 percent to C$235.32 after its Monday rise.

The market may also have been concerned about the overall rail industry outlook following disappointing results from U.S. railways. The index's industrials group, home to the railways, retreated 1.2 percent.   Continued...