CANADA STOCKS-TSX hits five-week low as energy, financial stocks weigh

Mon Nov 9, 2015 5:01pm EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds portfolio manager comment, updates prices to close)

* TSX ends down 70.68 points, or 0.52 percent, at 13,482.62

* Six of the TSX's 10 main groups fall

By Alastair Sharp

TORONTO, Nov 9 (Reuters) - Canada's main stock index closed at its weakest level in more than five weeks on Monday, pressured by global growth concerns, sustained pressure on crude prices, and anticipation of a December rate hike from the Federal Reserve.

The most influential downward force was Brookfield Asset Management Inc, which declined 5.6 percent to C$43.25 after changing tack in its takeover approach for Australian port and rail company Asciano Ltd.

The energy group retreated 1.2 percent as oversupply weighed on crude oil prices for a fourth straight day, with Suncor Energy Inc down 1.3 percent at C$38.97.

Canadian Natural Resources Ltd ended off 2.2 percent at C$32.93 after agreeing to sell most of its royalty assets in a C$1.8 billion ($1.4 billion) deal, joining other oil producers in shedding assets to weather the crude price slump.

The buyer, PrairieSky Royalty Ltd, advanced 0.5 percent to C$26.12.   Continued...