CANADA STOCKS-TSX down with energy stocks on no OPEC deal

Tue Sep 27, 2016 5:10pm EDT
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(Adds portfolio manager comment, updates prices to close)

* TSX ends down 61.42 points, or 0.42 percent, to 14,558.04

* Two decliners for every rising stock

By Alastair Sharp

TORONTO, Sept 27 (Reuters) - Energy and mining stocks dragged Canada's main stock index lower on Tuesday, cancelling out a modest relief rally elsewhere from a perceived win for Democrat Hillary Clinton in a U.S. presidential debate.

The index's heavyweight energy group retreated 1.8 percent, with Canadian Natural Resources Ltd down 1.5 percent to C$38.50 and Suncor Energy Inc off 1.4 percent at C$34.18.

Oil fell about 3 percent after Saudi Arabia and Iran dashed market hopes that the two major OPEC producers would find a compromise this week at meeting in Algiers to help ease a global glut of crude.

"People were hoping that OPEC would come to some conclusion to rake prices higher, but as usual in recent years OPEC hasn't been able to come to any decision because there is always someone who disagrees," said Norman Levine, managing director at Portfolio Management Corp.

The Toronto Stock Exchange's S&P/TSX composite index settled down 61.42 points, or 0.42 percent, at 14,558.04.   Continued...