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TSX retreats as tumbling oil prices hammer energy shares

A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. REUTERS/Mark Blinch

TORONTO (Reuters) - Canada’s main stock index fell on Friday to complete its worst week in nearly a month as a dive in oil prices hammered shares of energy companies.

* The Toronto Stock Exchange’s S&P/TSX composite index closed down 80.80 points, or 0.5 percent, at 15,010.78. For the week, the TSX declined nearly 1 percent.

* Just two of the index’s 10 major sectors were in negative territory, as a 4.7 percent drop in the energy sector led declines.

* U.S. oil prices slumped nearly 8 percent to the lowest in more than a year amid intensifying fears of a supply glut even as major producers consider cutting output.

* The other weak spot was the materials sector, which houses precious and base metals miners. It lost 2.3 percent after gold slipped as the dollar regained momentum.

* Torex Gold Resources Inc declined 14.0 percent to C$9.88, while New Gold Inc was down 9.2 percent at C$1.09.

* Domestic data showed above-target inflation but markets saw few signs that the Bank of Canada would hike interest rates next month.

* Among the most active Canadian stocks by volume were Bombardier Inc, down 4.0 percent to $2.40.

* Volume on the TSX index was lighter than usual at 154.84 million shares. U.S. stocks also closed lower, in a shortened post-holiday trading session. [.N]

Reporting by Fergal Smith; Editing by James Dalgleish

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