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CANADA STOCKS-TSX falls; Bombardier and Potash Corp weigh

Published 2015-10-29, 10:39 a/m
© Reuters.  CANADA STOCKS-TSX falls; Bombardier and Potash Corp weigh
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(Adds details, update prices to mid-morning)
* TSX down 50.58 points, or 0.36 percent, at 13,812.58
* Eight of the TSX's 10 main groups fall

TORONTO, Oct 29 (Reuters) - Canada's main stock index fell
on Thursday, with Bombardier Inc BBDb.TO plunging after
reporting a massive quarterly loss and Potash Corp POT.TO also
retreating as it trimmed its earnings and sales forecasts.
The losses were offset by gains in the heavyweight energy
sector amid volatile oil market trade.
Bombardier shed 15.5 percent to C$1.36 after the
Montreal-base plane and train maker said the Quebec government
will invest $1 billion in its long-delayed CSeries jet program
and announced a $4.6 billion third-quarter loss.
Potash Corp fell 3.8 percent to C$27.07 as the world's
biggest fertilizer company by capacity said it was cutting
production as economic pressures weigh on demand for potash, a
crop nutrient.
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE was down 50.58 points, or 0.36 percent, at 13,812.58
by 10:20 a.m. ET (1420 GMT).
Eight of its 10 main sectors were in negative territory,
although decliners outnumbered advancing issues by only 133 to
101, for a 1.32-to-1 ratio on the downside.
On the positive side, Suncor Energy Inc SU.TO gained 2.3
percent to C$38.39 and Cenovus Energy added 4.3 percent to
C$20.07, while the overall energy group rose 1.8 percent.
U.S. crude CLc1 prices were up 1.4 percent to $46.56 a
barrel, while Brent LCOc1 added 0.3 percent to $49.20.
The financial sector lost 1 percent, with Toronto-Dominion
Bank TD.TO down 1.3 percent to C$54.65 and insurer Manulife
Financial MFC.TO off 1 percent to C$22.32.

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