February 25, 2016 / 3:43 PM / in 2 years

CANADA STOCKS-TSX falls with energy stocks; financials up on bank results

* TSX down 37.85 points, or 0.3 percent, to 12,702.42

* Six of the TSX’s 10 main groups lower

TORONTO, Feb 25 (Reuters) - Canada’s main stock index fell on Thursday as energy stocks sagged with oil prices, offsetting a rise in financials stocks following decent bank earnings.

Shares in Canadian Imperial Bank of Commerce jumped 2 percent to C$89.22 after the bank beat on profit and raised its dividend, although, like other lenders that reported this week, CIBC reported rising bad loans in the oil and gas sector.

Its larger rival Toronto-Dominion Bank rose 0.9 percent to C$51.68 as its U.S. presence benefited from a weak Canadian dollar and wholesale banking profit fell.

The overall financials group gained 0.3 percent, while the energy group retreated 1.5 percent.

Oil prices were driven lower by persisting oversupply in a slowing global economy, extending losses after data pointed to rising stocks at a major refinery.

Canadian Natural Resources declined 2 percent to C$26.78, while TransCanada Corp fell 4.1 percent to C$48.72 and Enbridge Inc lost 2 percent to C$42.32.

At 10:00 a.m. EST (1500 GMT), the Toronto Stock Exchange’s S&P/TSX composite index fell 37.85 points, or 0.3 percent, to 12,702.42.

Six of the index’s 10 main groups were lower, with decliners outnumbering advancers by 3-to-2.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.2 percent.

Kinross Gold Corp declined 6.9 percent to C$4.04 after announcing a bought deal financing.

But other gold miners were higher as bullion benefited from a weaker U.S. dollar and interest from investors nervous about stock market gyrations.

Barrick Gold Corp added 1 percent to C$18.56.

Reporting by Alastair Sharp; Editing by Bernadette Baum

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