October 23, 2009 / 2:41 PM / 9 years ago

CANADA STOCKS-TSX falls on oil price, Agrium outlook

 * TSX down 31.56 points, 0.27 percent, at 11,501.81
 * Energy shares drop 0.6 percent as oil prices slip
 (Adds details, quote)
 By Jennifer Kwan
 TORONTO, Oct 23 (Reuters) - Toronto’s main stock index fell on Friday morning, pressured by weaker oil prices and a disappointing outlook from fertilizer maker and agricultural products retailer Agrium Inc AGU.TO.
 Big names on the downside included oil company EnCana Corp (ECA.TO), down 1.2 percent at C$64.13, and Agrium, which fell 3.5 percent to C$57.64.
 Agrium said on Friday it expects third-quarter earnings to be 90 percent to 95 percent below those of the year-earlier period. [ID:nBNG237646]
  Drops in Canadian National Railway (CNR.TO), down 1.7 percent at C$53.25, and Bank of Nova Scotia (BNS.TO), off 0.9 percent at C$46.47, also weighed on the index.
  Barrick Gold Corp (ABX.TO), the world’s biggest gold miner, was up 1.4 percent at C$40.31, and base-metals producer Teck Resources TCKb.TO rose 1.2 percent to C$35.53, cushioning the index’s fall.
   At 10:07 a.m. (1407 GMT), the S&P/TSX composite index .GSPTSE was down 31.56 points, or 0.27 percent, at 11,501.81. Nine of its 10 main groups were lower.
 Oil prices fell toward $80 a barrel, while bullion prices were also weaker. [O/R] [GOL/]
 Cable and telecom company Shaw Communications Inc (SJRb.TO) posted a lower quarterly profit on Friday [ID:nN22549811]. Shares were down 1.7 percent at C$20.22.
 ($1=$1.05 Canadian)  (Reporting by Jennifer Kwan;  editing by Peter Galloway)                                      

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