March 24, 2016 / 3:09 PM / in 2 years

CANADA STOCKS-TSX hits 2-week low as financial and energy stocks drop

* TSX down 62.45 points, or 0.47 percent, at 13,317.03

* Seven of the TSX’s 10 main groups were lower

TORONTO, March 24 (Reuters) - Canada’s main stock index fell to a two-week low on Thursday, with financial-sector and energy stocks declining as a drop in oil prices weighed on the resource-linked index.

The most influential movers on the index were bank stocks, including Royal Bank of Canada, which fell 1.4 percent to C$73.93, and Bank of Nova Scotia, which declined 1.6 percent to C$62.26.

The heavily weighted financials group fell 1.3 percent, while the energy group was down 1.1 percent.

Suncor Energy Inc fell 0.8 percent to C$35.30, while Canadian Natural Resources was down 1 percent at C$34.42.

U.S. crude prices were down 2.8 percent at $38.66 a barrel, dented by record-high stockpiles in the United States and a stronger dollar.

At 10:42 a.m. EDT (1442 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 62.45 points, or 0.47 percent, at 13,317.03. It touched its lowest since March 7 at 13,255.47.

Seven of the index’s 10 main groups were lower.

A federal judge on Wednesday granted class certification for a U.S. lawsuit claiming Barrick Gold Corp misstated facts of its now-halted Pascua-Lama gold-mine project on the border of Argentina and Chile.

Nonetheless, the stock rose 2.6 percent to C$18.00 as spot gold stabilized after hitting a four-week low.

The overall materials group, which includes precious and base metals miners and fertilizer companies, added 0.2 percent.

The defensive consumer staples group also advanced, including a 0.6 percent rise in the shares of Loblaw Cos Ltd to C$74.00. (Reporting by Fergal Smith; Editing by Lisa Von Ahn)

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