December 14, 2017 / 9:37 PM / 2 years ago

CANADA STOCKS-TSX in broad retreat led by Cenovus, other energy stocks

(Adds details on specific stocks, updates prices to close)

* TSX ends down 120.13 points, or 0.74 percent, at 16,016.46

* All 10 of the TSX’s main groups fall

* Energy group down 1.4 pct; Cenovus sheds 5.1 pct after job cuts

By Alastair Sharp

TORONTO, Dec 14 (Reuters) - Canada’s main stock index fell on Thursday in a broad retreat from an all-time high hit a day earlier, as financial stocks and energy companies weighed, with Cenovus Energy Inc down sharply after announcing a fresh round of job cuts.

* The energy group retreated 1.4 percent overall despite higher global oil prices, with Cenovus down 5.1 percent to C$11.26 as the oil sands company also announced the departure of three senior executives.

* The Toronto Stock Exchange’s S&P/TSX composite index closes down 120.13 points, or 0.74 percent, at 16,016.46.

* All 10 of the index’s main sectors fell, with decliners outnumbering advancers by a ratio of 2.7-to-1 overall.

* The financials group, which accounts for more than a third of the index’s weight, lost 0.6 percent.

* Drug company Valeant Pharmaceuticals International Inc fell 11.3 percent to C$25.11 after JPMorgan cut the stock to “underweight.”

* Bombardier Inc lost 1.9 percent to C$3.07 after the plane and train maker forecast 2018 revenue well short of analysts’ estimates.

* The largest percentage gainer was Mitel Network Corp , which rose 10.7 percent to C$10.46 after brokerage Craig-Hallum started coverage with a “buy” recommendation.

Reporting by Alastair Sharp; Editing by Susan Thomas and Meredith Mazzilli

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below