CANADA STOCKS-TSX falls as lower oil weighs on energy stocks

Mon Apr 25, 2016 5:43pm EDT
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(Adds portfolio manager quotes, details on Enbridge, Magna, materials stocks, updates prices)

* TSX closed down 78.01 points, or 0.56 percent, at 13,795.99 points

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

By Fergal Smith

TORONTO, April 25 (Reuters) - Canada's main stock index fell on Monday as lower oil prices weighed on energy stocks, while most other sectors also lost ground as risk appetite declined.

The index has rallied nearly 20 percent since January but has been unable to climb back above the 14,000 threshold.

"Corporate earnings have to get better for this market to go to the next level" said Allan Small, senior investment adviser at HollisWealth.

The energy group fell 1.5 percent, pressured by lower oil prices. U.S. crude prices settled more than $1 lower at $42.64 a barrel after data pointed to fresh U.S. crude builds.

Enbridge Inc fell 1.5 percent to C$53.05. Canadian regulators recommended the federal government approve the company's Line 3 pipeline replacement project, but imposed 89 project-specific conditions aimed at enhancing safety and environmental protection.   Continued...