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CANADA STOCKS-TSX falls on weakness in financials, consumer staples

Published 2016-03-02, 11:39 a/m
© Reuters.  CANADA STOCKS-TSX falls on weakness in financials, consumer staples
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(Adds details on sectors and individual stocks, updates prices)
* TSX down 57.81 points, or 0.45 percent, to 12,924.29
* Six of the TSX's 10 main groups were lower

TORONTO, March 2 (Reuters) - Canada's main stock index fell
on Wednesday as losses for financial and consumer staple stocks
offset gains for materials, energy and healthcare stocks.
The most influential movers on the index included bank
stocks, with Bank of Nova Scotia BNS.TO falling 1.1 percent to
C$57.27 a share and Royal Bank of Canada RY.TO declining 1.1
percent to C$69.39.
The financials group fell 0.8 percent.
Consumer staple stocks also dragged. Loblaw Companies Ltd
L.TO fell 2.1 percent to C$68.69, while Alimentation
Couche-Tard Inc ATDb.TO was down 1.9 percent at C$60.68.
However, energy stocks rose 0.7 percent, with Canadian
Natural Resources Ltd CNQ.TO rising 1.6 percent to C$29.24.
U.S. crude CLc1 prices were up 1.1 percent to $34.78 a
barrel as earlier losses were reversed. O/R
At 11:10 a.m. EST (1610 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE fell 57.81 points, or 0.45
percent, to 12,924.29. Six of the index's 10 main groups were in
negative territory.
Shares of Valeant Pharmaceuticals International Inc (NYSE:VRX) VRX.TO
rebounded more than 3 percent to C$90.88. Reuters has reported
that a U.S. regulatory probe of the drugmaker is focused on its
relationship with specialty pharmacy Philidor RX Services and
was triggered by Valeant's own request that regulators
investigate a short seller's allegations.
Label and packaging maker CCL Industries Inc CCLb.TO rose
nearly 10 percent to C$230.32 a share following news it is
buying U.S.-based Checkpoint Systems Inc CKP.N for about $422
million.
The materials group, which includes precious and base metals
miners and fertilizer companies, added 2.6 percent.
Shares of Potash Corporation of Saskatchewan Inc POT.TO
rose 4.1 percent to C$24.12, while Barrick Gold Corp ABX.TO
was up 1.1 percent to C$18.02.

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