(Adds strategist comment, updates prices to close)
* TSX ends down 79.72 points, or 0.58 percent, at 13,758.38
* Seven of the TSX's 10 main groups fall
By Alastair Sharp
TORONTO, Oct 19 (Reuters) - Canada's main stock index fell
on Monday as slumping oil prices and worries over slowing
Chinese demand hurt energy stocks and miners, while investors
largely shrugged off political risk from a federal election that
could lead to a change in government.
Oil fell about 4 percent, and the influential energy group
on Toronto Stock Exchange's S&P/TSX composite index .GSPTSE
followed it down 3 percent.
The materials group, which included miners, lost 2.2 percent
and healthcare also slipped.
But the seven other main groups all rose, as the index
closed down 79.72 points, or 0.58 percent, at 13,758.38. That
was its lowest close in almost two weeks.
The most influential mover on the index was Valeant
Pharmaceutical International Inc VRX.TO , which fell 4.7
percent to C$216.75. The company, facing heavy criticism for
sharply increasing the prices of drugs it acquired, said the
pace of those price hikes would moderate. ID:nL1N12J0PP
"The fact that the domestic components are up, outside of
certain idiosyncratic areas such as healthcare, suggests that
people aren't that worried about the election," said John
Johnston, chief strategy officer at Davis-Rea.
Canadian voters may oust Conservative Prime Minister Stephen
Harper's government, polls suggest, amid a late surge by Liberal
rival Justin Trudeau. ID:nL1N12J16L
Johnston said the most likely scenarios from the vote, whose
results are expected later on Monday night, would not change his
dim view on Canadian equities.
"I'm kind of pessimistic on Canadian growth, I think
interest rates stay low, the Canadian dollar's going to be weak
and the stock market will underperform over the next several
years," he said.
Among oil names, the biggest weights included Suncor Energy
Inc SU.TO , down 1.4 percent to C$36.36, and Canadian Natural
Resources CNQ.TO , off 2.1 percent to C$30.28.
Mining stocks pulled back as concerns about sluggish Chinese
growth weighed on prices for copper and steel. MET/L IRONORE
China's economy grew at the slowest pace in six years in the
third quarter, according to official data released on Monday.
ID:nL3N12J1EK
First Quantum Minerals Ltd FM.TO lost 9.1 percent to
C$6.83, and Goldcorp Inc G.TO shed 2.5 percent to C$19.28.
Gold futures GCc1 fell 0.9 percent to $1,169.3 an ounce.
GOL/ Copper prices CMCU3 declined 1.5 percent to $5,206 a
tonne.