CANADA STOCKS-TSX drops as weak oil prices hit energy shares

Fri Aug 7, 2015 5:10pm EDT
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* TSX drops 103.21 points, or 0.72 percent, to 14,302.70

* Nine of 10 main index groups fall

* Index lost 1.1 pct in short week

By Alastair Sharp

TORONTO, Aug 7 (Reuters) - Canada's main stock index fell on Friday in a broad retreat led by heavyweight energy and financial stocks as oil prices recorded their sixth straight weekly loss and North American jobs data highlighted Canada's relatively limp economy.

Canadian employment data showed a small gain in June, but a loss of full-time positions, while U.S. numbers were close enough to forecast to stoke bets the Federal Reserve will raise interest rates, perhaps as early as September.

"The probability of the Fed raising rates is getting higher," said Marcus Xu, portfolio manager at M.Y. Capital Management. "But the market could go lower from here."

The Toronto Stock Exchange's S&P/TSX composite index fell 103.21 points, or 0.72 percent, to 14,302.70.

Nine of the index's 10 main groups fell, and decliners outnumbered advancers by almost 3-to-1. The index lost 1.1 percent over the holiday-shortened week.   Continued...