CANADA STOCKS-TSX falls as lower oil weighs on energy; telecoms rise

Mon May 2, 2016 11:17am EDT
 
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(Adds details on sectors and stocks, updates prices)

* TSX fell 78.04 points, or 0.56 percent, to 13,873.41

* Six of the TSX's 10 main groups were lower

TORONTO, May 2 (Reuters) - Canada's main stock index fell on Monday as lower oil prices weighed on energy stocks, offsetting a jump in the shares of Manitoba Telecom Services Inc on news of the company's acquisition by BCE Inc.

The most influential movers on the index included Suncor Energy Inc, which fell 2.4 percent to C$35.94, and Canadian Natural Resources Ltd, which declined 1.5 percent to C$37.10.

The overall energy group retreated 1.8 percent.

Crude prices fell as data showing higher Middle East oil production and record hedge fund buying sparked profit-taking on last month's outsized rally. U.S. crude prices were down 1.4 percent at $45.29 a barrel.

Gold stocks retreated as gold eased back below $1,300 after having made a fresh 15-month peak.

Goldcorp Inc fell 2.1 percent to C$24.74, while Barrick Gold Corp was down 0.5 percent at C$24.16.   Continued...