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CANADA STOCKS-TSX falls as banks, miners weigh; Valeant and energy stocks up

Published 2016-04-06, 10:27 a/m
© Reuters.  CANADA STOCKS-TSX falls as banks, miners weigh; Valeant and energy stocks up
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(Adds details, updates prices)
* TSX down 43.02 points, or 0.32 percent, to 13,261.64
* Seven of the TSX's 10 main groups fall

TORONTO, April 6 (Reuters) - Canada's main stock index fell
on Wednesday as banks and gold miners slipped, although losses
were muted by energy stock gains as oil prices rose.
The three most influential weights on the index were banks,
with Toronto-Dominion Bank TD.TO down 1.1 percent to C$54.80,
and Bank of Nova Scotia BNS.TO off 0.6 percent to C$61.60.
Royal Bank of Canada RY.TO declined 0.6 percent to
C$73.65. Canada's biggest lender is facing shareholders at its
annual meeting in Montreal amid concerns over its oil and gas
exposure following an increase in bad loans in the first
quarter.
The financials group slipped 0.9 percent, while the
materials group, which includes precious and base metals miners
and fertilizer companies, lost 1.0 percent.
Goldcorp Inc G.TO declined 2.5 percent to C$20.83 as gold
XAU= fell 1 percent. GOL/
At 10:11 a.m. EDT (1411 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was down 43.02 points, or 0.32
percent, to 13,261.64.
Seven of the index's 10 main groups were lower.
The energy group gained 0.7 percent, as oil prices LCOc1
CLc1 rose after industry data suggested the U.S. government
was likely to report a smaller rise in crude inventories for
last week compared to market expectations for a record high.
O/R
The most influential gainers included Valeant
Pharmaceuticals International Inc VRX.TO , which rose 6.2
percent to C$40.12, and Canadian Natural Resources Ltd CNQ.TO ,
which advanced 0.8 percent to C$33.63.
Valeant added to Tuesday's gains as Bill Ackman, an activist
investor and recent addition to the company's board, said a new
CEO could be found in weeks rather than months.

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