(Adds details, updates prices)
* TSX down 131.62 points, or 1.06 percent, at 12,257.96
* Eight of the TSX's 10 main groups fall
TORONTO, Jan 25 (Reuters) - Canada's main stock index fell
on Monday as last week's crude-induced rally fizzled out and a
fall in oil prices weighed on energy companies and financial
shares.
At 10:41 a.m. EST (1541 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE fell 131.62 points, or 1.06
percent, to 12,257.96.
Eight of its 10 main groups were in negative territory,
while three-in-four stocks were lower.
The most influential weights were financials, which slipped
1.9 percent, and energy companies, which retreated 2.8 percent.
Royal Bank of Canada RY.TO fell 1.6 percent to C$68.24,
and Toronto-Dominion Bank TD.TO declined 1.8 percent to
C$50.76. Insurer Manulife Financial Corp MFC.TO lost 2.6
percent to C$18.23.
Oil prices fell 3 percent as Iraq announced record-high oil
production feeding into a heavily oversupplied market, wiping
out much of the gains made in one of the biggest-ever daily
rallies last week. O/R
Suncor Energy Inc SU.TO declined 1.8 percent to C$30.78
and Canadian Natural Resources CNQ.TO fell 2.2 percent to
C$25.50.
U.S. crude CLc1 prices were down 2.9 percent to $31.25 a
barrel, while Brent crude LCOc1 lost 2.6 percent to $31.35.
The oil price rout and related Canadian dollar slide is
starting to hurt corporate profits, from rail and retail to
seemingly unrelated sectors like telecoms.
Earnings are projected to fall by 28.3 percent in 2016
compared to a year ago, according to Thomson Reuters
SmartEstimates data.
Eldorado Gold Corp ELD.TO slumped 13.3 percent to C$2.80
after it said it expects to write down the value of its assets
in Greece by $1.2-$1.6 billion after suspending most operations
there.
Other gold miners rose as bullion gained. GOL/