October 31, 2019 / 2:21 PM / 14 days ago

CANADA STOCKS-Energy stocks drag TSX lower

Oct 31 (Reuters) - Canada’s main stock index fell on Thursday as energy stocks were hit by lower crude prices and disappointing earnings from Suncor Energy.

* Seven of the index’s 11 major sectors were trading lower, led by a 2.1% slide in energy stocks.

* Oil prices came under pressure from rising U.S. crude oil stocks and weak factory activity in China, with few bullish factors on the horizon.

* Suncor Energy Inc slipped 3% after the second-largest Canadian oil and gas producer’s reported disappointing third-quarter profits

* Pretium Resources dived 22% after the miner reported worse-than-expected quarterly results.

* At 9:44 a.m. ET (1344 GMT), the Toronto Stock Exchange’s S&P/TSX Composite index was down 42.45 points, or 0.26%, at 16,458.98.

* The main index is set end October with losses of 1.2%, its second monthly decline for the year.

* Also weighing on sentiment was data that showed Canada’s economy gained 0.1% in August, a touch less than analysts expected.

* In a bright spot, SNC-Lavalin Group Inc jumped 11%, to the top of TSX, after quarterly results beat estimates and the company named interim head Ian Edwards as its chief executive officer.

* On the TSX, 104 issues were higher, while 120 issues declined for a 1.15-to-1 ratio to the downside, with 23.95 million shares traded.

* The most heavily traded shares by volume were Bombardier , Encana Corp and Bank Of Montreal.

* The TSX posted two new 52-week highs and seven new lows.

* Across all Canadian issues there were ten new 52-week highs and 20 new lows, with total volume of 38.45 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Amy Caren Daniel)

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