CANADA STOCKS-TSX falls for third straight day, but golds rise

Wed May 13, 2015 10:53am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Updates prices and adds analyst's comment, details)

* TSX down 40.16 points, or 0.27 percent, to 15,002.99

* Eight of the TSX's 10 main groups lower

By Solarina Ho

TORONTO, May 13 (Reuters) - Canada's main stock index fell for a third straight session on Wednesday, reversing early gains, as U.S. economic data disappointed the market, while rising gold miners limited the loss.

Canadian National Railway Co was the index's biggest heavyweight decliner. The country's biggest railway fell 2.04 percent to C$74.97. Canadian Pacific Railway Ltd was not far behind, falling 2.1 percent to C$214.94. The railways are in the index's industrials group, which retreated 0.9 percent.

Energy stocks reversed course and fell 0.3 percent after initially climbing on stronger oil prices. In the group, Encana Corp fell 3.9 percent to C$16.02.

"You're getting the offsetting effects of crude oil price up a little bit, which is good for energy stocks, but U.S. retail sales disappointed, which is still continuing to raise questions about the health of the U.S. economy," said Colin Cieszynski, senior market analyst at CMC Markets Canada, noting the United States is Canada's largest export market.

"Overall, stock markets are struggling here. The U.S. markets are kind of going sideways, and it looks to me Canada's doing about the same."   Continued...