CANADA STOCKS-TSX dips in seesaw session as energy drags

Wed Nov 25, 2015 4:51pm EST
 
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(Adds portfolio manager comment, updates prices, details)

* TSX ends down 4.41 points, or 0.03 percent, at 13,403.42

* Four of the TSX's 10 main groups fall; energy down 0.9 pct

By Fergal Smith

TORONTO, Nov 25 (Reuters) - Canada's main stock index closed slightly lower on Wednesday after a seesaw session in which weakness in energy and financials offset gains for consumer and railway stocks, with energy stocks retreating despite a higher close for crude oil.

"It is fairly flat, non-directional," said Kevin Headland, director capital markets and strategy at Manulife Asset Management. "You've got the lead into the holiday season, the lead into the Fed announcement, you have conflicting information around oil out there."

The energy group fell 0.9 percent, including a 1.7 percent drop in Canadian Natural Resources to C$32.73, while Suncor Energy Inc was down 1.1 percent at C$36.60.

U.S. crude prices settled at $43.04 a barrel, up 0.4 percent, building on Tuesday's rally after a lower-than-expected U.S. stock build, while Brent crude added 0.3 percent to $46.25.

Financials dipped 0.1 percent, including a 0.6 percent drop in Sun Life Financial Inc to C$43.46, while Canadian Imperial Bank of Commerce was down 0.4 percent at C$99.38.   Continued...