CANADA STOCKS-TSX slips as energy stocks pull back, Valeant falls

Thu Oct 15, 2015 4:49pm EDT
 
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(Adds portfolio manager comment, updates prices to close)

* TSX ends down 46.36 points, or 0.33 percent, at 13,828.97

* Valeant falls 5.4 pct after subpoena by U.S. prosecutors

By Alastair Sharp

TORONTO, Oct 15 (Reuters) - Canada's main stock index slipped on Thursday, as a pullback among energy stocks and a U.S. subpoena for Valeant Pharmaceuticals International Inc weighed.

Valeant fell 5.4 percent to C$216.73 after it said it was subpoenaed by U.S. prosecutors on its pricing, drug distribution and patient assistance programs.

The energy group slipped 0.6 percent, with oil falling for a fourth straight day as a U.S. crude buildup supported oversupply concerns.

The most influential decliners included Canadian Natural Resources, which fell 1.2 percent to C$30.65, and Suncor Energy Inc, down 0.7 percent at C$36.75.

"Canada is underperforming the U.S. today, likely due to a pullback in resources, which have been having a strong month so far in October," said Youssef Zohny, portfolio manager at StennerZohny Investment Partners+ of Richardson GMP Ltd.   Continued...