CANADA STOCKS-Bombardier slumps, materials weigh on TSX fall

Thu Oct 29, 2015 5:14pm EDT
 
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(Adds strategist comment, update prices to close)

* TSX ends down 71.28 points, or 0.51 percent, to 13,791.88

* Six of the TSX's 10 main groups fall

By Alastair Sharp and John Tilak

TORONTO, Oct 29 (Reuters) - Canada's main stock index fell on Thursday, with sliding commodity prices hurting miners, while Bombardier Inc plunged after reporting a massive quarterly loss and Potash Corp fell on trimmed earnings and sales forecasts.

The losses were offset by gains in the heavyweight energy sector amid volatile oil market trade.

Bombardier shed 15.5 percent to C$1.36 after the Montreal-based plane and train maker said the Quebec government will invest $1 billion in its long-delayed CSeries jet program and announced a $4.6 billion third-quarter loss.

The decline came a day after the market jumped following the U.S. Federal Reserve's decision to hold interest rates steady.

"It was a consolidation day," said Colin Cieszynski, chief market strategist at CMC Markets. "The Street was basically digesting the big moves yesterday," he said, adding that investors are coming around to the reality of an eventual Fed hike.   Continued...