CANADA STOCKS-TSX falls to 15-week low as oil price slump drags

Tue Dec 8, 2015 10:47am EST
 
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(Adds details, updates prices)

* TSX falls 128.39 points, or 0.98 percent, to 12,914.44

* All of the TSX's 10 main groups lose ground

TORONTO, Dec 8 (Reuters) - Canada's main stock index hit a more than 15-week low on Tuesday as crude oil prices fell to their lowest since 2009, leading to broad retreats in the resource-linked market.

The biggest weight on the index were the major banks, which last week all reported a rise in bad loans in the energy sector from a year earlier. Investors worried that this could turn into more writedowns and losses.

Royal Bank of Canada fell 1.5 percent to C$74.28, and Toronto-Dominion Bank declined 1.2 percent to C$53.42. Insurer Manulife Financial Corp lost 1.7 percent to C$21.46.

At 10:08 a.m. EST (1508 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 128.39 points, or 0.98 percent, at 12,914.44, its weakest since Aug. 24.

That August low came in the midst of a global market rout that pulled Chinese stocks down 9 percent and sent commodity prices tumbling. The S&P/TSX has been under 13,000 points only once since then and before that not since October 2013.

All 10 main sectors lost ground on Tuesday. Five stocks declined for every gainer, and 46 set 52-week lows.   Continued...