April 17, 2015 / 9:19 PM / in 3 years

CANADA STOCKS-TSX declines as bank weakness offsets energy gains

(Adds fund manager’s comment, details and updates prices)

* Index down 26.22 points, or 0.17 percent, at 15,360.55

* Seven of 10 main index sectors lower

By Alastair Sharp

TORONTO, April 17 (Reuters) - Canada’s main stock ended moderately lower on Friday as some of the country’s largest financial stocks retreated, while energy gains offset some of the damage.

Energy shares managed to shrug off a decline in crude prices, which came under pressure from signs that supply is still growing.

In the group, Canadian Natural Resources Ltd added 1 percent to C$41.25 and pipeline company Enbridge Inc advanced 0.6 percent to C$64.82.

Oil has bounced off March lows below $45 a barrel but is still far cheaper than it was a year ago.

“The fundamentals on oil are still relatively weak,” said Marcus Xu, portfolio manager and president at M.Y. Capital Management Corp in Vancouver.

“The oil price should stabilize, but it will tread water for a while,” he added. “I don’t see any quick comeback.”

The Toronto Stock Exchange’s S&P/TSX composite index closed down 26.22 points, or 0.17 percent, at 15,360.55. Seven of the 10 main sectors on the index were in the red.

The biggest weights on the index included Royal Bank of Canada, which fell 0.6 percent to C$80.76, and Toronto-Dominion Bank, which declined 0.5 percent to C$55.75.

The overall financials group retreated 0.6 percent, following a recent rise.

$1=$1.22 Canadian Additional reporting by John Tilak; Editing by Chizu Nomiyama, Peter Galloway and Lisa Shumaker

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