CANADA STOCKS-TSX falls as earnings reports fail to impress

Thu Apr 30, 2015 4:23pm EDT
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(Adds portfolio manager comment, details; updates prices to close)

* TSX ends down 124.20 points, or 0.81 percent, at 15,223.14

* Nine of the index's 10 main groups fall

By Alastair Sharp

TORONTO, April 30 (Reuters) - Canada's main stock index fell on Thursday as investors, positioning their portfolios at the end of the month, appeared less than impressed by a host of quarterly results.

Still, the Toronto Stock Exchange's S&P/TSX composite index rose 2.2 percent in April.

But those gains may be reaching their limits, as investors worry equities prices may have risen up too quickly given the uncertain economic and monetary environment.

"The TSX, like other global markets, is hitting some resistance levels," said Youssef Zohny, portfolio manager at StennerZohny Investment Partners+. "I wouldn't be surprised to see a global pullback as we enter the spring."

"If monetary stimulus is not helping revive growth, then stocks are probably expensive," he said.   Continued...