(Adds details on specific stocks, updates prices)
* TSX down 91 points, or 0.58 percent, to 15,561.08
* Seven of the TSX’s 10 main groups move lower
TORONTO, May 9 (Reuters) - Canada’s main stock index fell on Tuesday as energy stocks weighed with lower oil prices and as software company Open Text Corp lost ground after its quarterly profit missed expectations.
Those losses offset a sharp gain for Valeant Pharmaceuticals International Inc, up 12.9 percent to C$15.08, after reporting its first quarterly profit in six quarters and raising its earnings outlook.
Home Capital Group also spiked, up 18.6 percent to C$8.10 after the alternative lender announced a plan to sell up to C$1.5 billion of its mortgage book.
At 10:30 a.m. ET (1430 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 91 points, or 0.58 percent, to 15,561.08.
Seven of the index’s 10 main groups were in negative territory, with the heavyweight energy group retreating 1.2 percent as oil prices buckled on concern about slowing demand and rising U.S. output.
Canadian Natural Resources Ltd fell 1.9 percent to C$42.23 and Suncor Energy Inc declined 0.9 percent to C$42.85. Pipeline companies also fell, with Enbridge Inc down 0.7 percent to C$56.57 and TransCanada Corp off 0.5 percent to C$64.19.
The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.7 percent.
Open Text fell 6.5 percent to C$44.55 after the business software maker reported a lower-than-expected quarterly profit after the bell on Monday as it works to integrate Dell-EMC’s enterprise content division, a purchase it completed in January.
The financials group fell 0.9 percent, with the country’s largest lender, Royal Bank of Canada, down 1.2 percent at C$93.10. Toronto-Dominion Bank fell 0.9 percent to C$63.57.
Air Canada hit its highest level so far this year, adding to gains since it reported a smaller-than-expected loss on Friday. It was last up 2.2 percent at C$14.40.
The value of Canadian building permits unexpectedly declined in March for the second month in a row as there were fewer plans to build apartments in the provinces of Ontario and British Columbia, data from Statistics Canada showed on Tuesday.
Reporting by Alastair Sharp; Editing by Alistair Bell
Our Standards: The Thomson Reuters Trust Principles.