CANADA STOCKS-TSX falls as materials, banks offset energy gains

Thu Sep 8, 2016 10:28am EDT
 
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(Adds details on specific stocks, updates prices)

* TSX down 28.76 points, or 0.19 percent, at 14,767.99

* Nine of the TSX's 10 main groups fall

TORONTO, Sept 8 (Reuters) - Canada's main stock index slipped on Thursday as losses for materials and banking stocks canceled out gains for energy companies as oil prices rose.

The heavyweight energy group climbed 0.6 percent, the only one of 10 major sectors to gain.

At 10:18 a.m. EDT (1418 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 28.76 points, or 0.19 percent, at 14,767.99.

Among the most influential gainers was Enbridge Inc , which rose 3.7 percent to C$58.52. The pipeline company's stock has jumped about 12 percent since announcing a major acquisition earlier this week.

Oil prices rose nearly 2 percent after U.S. industry data showed a large drawdown in crude stocks, reflecting the impact of an Atlantic storm.

The materials group, which includes precious and base metals miners and fertilizer companies, fell 1.2 percent, while the financials group slipped 0.4 percent.   Continued...