CANADA STOCKS-TSX lower as energy stocks, Valeant weigh

Wed Nov 11, 2015 5:01pm EST
 
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(Adds portfolio manager comment, updates prices)

* TSX ends down 69.70 points, or 0.52 percent, at 13,341.93

* Energy group falls 3 pct; industrials, materials, utilities down

TORONTO, Nov 11 (Reuters) - Canada's main stock index slipped on Wednesday as slumping oil prices weighed on the heavyweight energy sector and embattled Valeant Pharmaceuticals International Inc also fell.

Valeant lost 5.5 percent to close at C$104.66 a share after a U.S. judge ruled it and one of its investors must face a lawsuit accusing them of insider trading.

The company is facing intense scrutiny of its drug pricing policies and allegations about its relationship with a related pharmacy.

A decline in oil prices, with U.S. crude settling down 2.9 percent, fueled the retreat in the energy sector.

"Energy is trading off today given what we saw overnight in China's industrial numbers," said Manash Goswami, a portfolio manager at First Asset Investment Management Inc.

China's factory output growth hit a seven-month low in October while investment expansion slipped to its weakest pace since 2000.   Continued...