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CANADA STOCKS-TSX at fresh 11-week low as energy stocks sink

Published 2015-12-11, 10:29 a/m
CANADA STOCKS-TSX at fresh 11-week low as energy stocks sink
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(Adds details, updates prices)
* TSX down 166.88 points, or 1.28 percent, at 12,849.71
* All of the TSX's 10 main groups fall; energy stocks down
3.3 pct
* Index on track for a 3.6 pct decline over the week

TORONTO, Dec 11 (Reuters) - Canada's main stock index sank
further on Friday following a two-day respite as energy stocks
tumbled after an oil group warned on slowing demand growth and
heavyweight bank shares also fell.
The most influential movers on the index included Royal Bank
of Canada RY.TO , which fell 1.4 percent to C$73.12, and
Toronto-Dominion Bank TD.TO , which declined 0.9 percent to
C$53.50.
The overall financials group, 38 percent of the index's
weight, retreated 1.2 percent.
Energy stocks lost 3.3 percent, with Canadian Natural
Resources CNQ.TO down 3.1 percent at C$29.03 and Suncor Energy
Inc SU.TO off 1.9 percent at C$35.01.
Hudson's Bay Co HBC.TO slumped 13.3 percent to C$17.26
after cutting its sales forecast for this year and next in an
earnings report late on Thursday.
At 10:11 a.m. EST (1511 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE fell 166.88 points, or 1.28
percent, to 12,849.71.
That was a fresh 11-week low, with 22 stocks hitting new
52-week lows and 8 names falling for every stock that gained and
all 10 main groups weighing.
The index had crashed through the 13,000 level earlier in
the week before paring some losses on Thursday. The index is on
track for a 3.6 percent loss over the week.
On the positive side, the maker of Ski-Doo snowmobiles and
See-Doo watercraft, BRP Inc DOO.TO , advanced 14.1 percent to
C$23.02 after reporting soaring profit helped by favorable
exchange rates.
U.S. crude CLc1 prices were down 2.3 percent to $35.92 a
barrel, while Brent crude LCOc1 lost 2.8 percent to $38.60 a
barrel.
Global oil markets will remain oversupplied at least until
the end of 2016 as demand growth slows and OPEC output booms,
putting oil prices under further pressure, the International
Energy Agency said.

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