CANADA STOCKS-TSX falls as lower oil prices weigh on energy, financial shares

Tue Feb 23, 2016 4:38pm EST
 
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(Adds analyst quotes, details on energy, financial and industrial stocks, updates prices)

* TSX closes down 82.19 points, or 0.64 percent, at 12,763.44

* Five of 10 main sectors fall

By Fergal Smith

TORONTO, Feb 23 (Reuters) - Canada's main stock index fell on Tuesday as lower crude oil prices weighed on energy stocks, while financials reversed course after being lifted in earlier trade by better-than-expected Bank of Montreal earnings.

The index touched a seven-week high on Monday together with gains for many major stock markets. But the rally in global stocks ran out of steam as crude oil prices fell.

"We are still working through a base building process for world markets," said Colin Cieszynski, senior market analyst at CMC Markets Canada.

It has led to "choppy trading" where markets can't sustain momentum in either direction, he added.

The index retreated less than U.S. markets, cushioned by strengthening in the shares of gold miners as spot gold rallied nearly 1.3 percent.   Continued...