* Energy and financial shares lead way lower
* Bombardier rises after posting strong profit
TORONTO, June 4 (Reuters) - Toronto’s main stock market index slipped on Wednesday as falling oil prices and weak financial shares weighed on the market.
The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE was down 37.67 points, or 0.3 percent, at 14,690.94 after touching a low of 14,640.71 earlier in the day.
Six of the TSX index’s 10 main groups were lower, led by a 0.9 percent drop in the energy group and a 0.4 percent fall for financial shares. These two groups account for about 60 percent of the overall market.
“We are still groping to find a lasting direction in this market. But we are coming close,” said Rick Hutcheon, president at RKH Investments.
Energy shares slipped as the price for crude oil briefly touched a three-week low of $123.15 a barrel, before settling around $123.80.
Financial shares fell as the market speculated whether the end of U.S. interest rates cuts was near, while worries over Lehman Brothers LEH.N credit situation lingered.
A 0.6 percent boost for industrial shares and a 1.1 percent boost from utilities tempered the losses.
Bombardier Inc (BBDb.TO) rose 49 Canadian cents to C$8.65 after it reported a quarterly profit that nearly tripled as aircraft deliveries rose. Bombardier also reinstated its quarterly dividend. ($1=$1.01 Canadian) (Reporting by Scott Anderson; Editing by Frank McGurty)