CANADA STOCKS-TSX slips as energy stocks slump, Bank of Canada trims outlook

Wed Jul 13, 2016 12:33pm EDT
 
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(Recasts with index fall after crude data, Bank of Canada)

* TSX falls 29.97 points, or 0.21 percent, to 14,447.70

* Eight of the TSX's 10 main groups push lower

* Index reversed gains after crude inventory data, Bank of Canada

By Alastair Sharp

TORONTO, July 13 (Reuters) - Canada's main stock index turned negative on Wednesday as energy shares slumped with oil on renewed fears of a supply glut and the broader market pulled back after the Bank of Canada held interest rates steady and cut its economic outlook.

The heavyweight energy group retreated 2.2 percent, with Canadian Natural Resources down 2 percent to C$40.59, Suncor Energy Inc falling 2.1 percent to C$36.46, and pipeline operator Enbridge Inc slipping 0.9 percent to C$55.01.

Oil prices tumbled than 4 percent after the U.S. government stunned the market with bearish oil inventory data that added to renewed concerns over a global glut.

At 12:16 p.m. EDT (1616 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 29.97 points, or 0.21 percent, to 14,447.70.   Continued...