CANADA STOCKS-Slumping oil, China worries hit TSX's resource stocks

Mon Oct 19, 2015 4:56pm EDT
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(Adds strategist comment, updates prices to close)

* TSX ends down 79.72 points, or 0.58 percent, at 13,758.38

* Seven of the TSX's 10 main groups fall

By Alastair Sharp

TORONTO, Oct 19 (Reuters) - Canada's main stock index fell on Monday as slumping oil prices and worries over slowing Chinese demand hurt energy stocks and miners, while investors largely shrugged off political risk from a federal election that could lead to a change in government.

Oil fell about 4 percent, and the influential energy group on Toronto Stock Exchange's S&P/TSX composite index followed it down 3 percent.

The materials group, which included miners, lost 2.2 percent and healthcare also slipped.

But the seven other main groups all rose, as the index closed down 79.72 points, or 0.58 percent, at 13,758.38. That was its lowest close in almost two weeks.

The most influential mover on the index was Valeant Pharmaceutical International Inc, which fell 4.7 percent to C$216.75. The company, facing heavy criticism for sharply increasing the prices of drugs it acquired, said the pace of those price hikes would moderate.   Continued...