CANADA STOCKS-TSX falls, pressured by financial and energy stocks

Mon Feb 8, 2016 5:36pm EST
 
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(Adds portfolio manager quotes, details on Brookfield Asset Management, Valeant, Alimentation Couche-Tard, Amaya; updates prices)

* TSX ends down 228.59 points, or 1.79 percent, at 12,535.40

* Nine of the TSX's 10 main groups fall

By Fergal Smith

TORONTO, Feb 8 (Reuters) - Canada's main stock index fell on Monday as banking, energy and consumer stocks lost ground, offsetting gains among gold miners as global growth concerns mounted.

Declining crude oil prices for a third straight day weighed on Canada's resource-linked market, while worries over global growth and the health of the financial sector hurt sentiment after triggering a sell-off in European stocks.

Deterioration in earnings and revenue has become "more broad based," said Manash Goswami, a portfolio manager at First Asset Investment Management Inc, spreading from resource stocks to financials and technology.

Financial sector stocks tumbled 2 percent, including a 2.6 percent drop in Royal Bank of Canada to C$69.29.

Brookfield Asset Management Inc fell nearly 4 percent to C$38.50. Its bid for Australian freight giant Asciano Ltd has been trumped by local rival Qube Holdings Ltd .   Continued...