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CANADA STOCKS-TSX falls as growth worries weigh on banks, energy stocks

Published 2016-07-06, 10:52 a/m
© Reuters.  CANADA STOCKS-TSX falls as growth worries weigh on banks, energy stocks
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(Adds details from morning trade, data; updates prices)
* TSX down 96.92 points, or 0.68 percent, to 14,122.65
* Nine of the TSX's 10 main groups move lower

TORONTO, July 6 (Reuters) - Canada's main stock index fell
on Wednesday, with heavyweight financial stocks pulling back as
global growth fears rose and energy shares falling with subdued
oil prices.
The index - sensitive to global sentiment due to its high
concentration of resource-related issues - took a less severe
hit than European indexes as Brexit-related worries resurfaced.
The economic uncertainty bolstered bullion, supporting gold
miners.
At 10:28 a.m EDT (1428 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was down 96.92 points, or 0.68
percent, to 14,122.65.
Nine of the index's 10 main groups were in negative
territory, with five decliners for every two advancers.
The financials group lost 1.2 percent, with Toronto-Dominion
Bank TD.TO down 1.7 percent to C$54.49 and Royal Bank of
Canada RY.TO off 1.1 percent to C$76.09.
Insurers also fell, with Manulife Financial Corp MFC.TO
shedding 3 percent to C$16.63 and Sun Life Financial SLF.TO
down 1.9 percent to C$40.70.
The energy group retreated 1 percent, as oil edged lower for
a third day on demand worries. O/R
Pipeline operator Enbridge Inc ENB.TO fell 1 percent to
C$54.27, Suncor Energy Inc SU.TO lost 1 percent to C$36.35,
and Canadian Natural Resources CNQ.TO slipped 0.8 percent to
C$39.91.
The value of Canadian energy exports surged in May even as
the industry was coping with a major Alberta wildfire, but
improved oil sales were not enough to prevent the second biggest
trade deficit on record, Statistics Canada data showed on
Wednesday.
Gold miners again helped to limit overall losses, as
investors sought bullion as a haven from risk, pushing the
precious metal to its highest level in more than two years.
GOL/
Barrick Gold Corp ABX.TO added 2.1 percent to C$29.72,
Goldcorp Inc G.TO advanced 1.1 percent to C$26.27, and Yamana
Gold YRI.TO rose 2.7 percent to C$7.60.
Centerra Gold CG.TO declined 7.3 percent to C$7.51 after
agreeing to buy U.S.-based Thompson Creek Metals TCM.TO for
around $1.1 billion to expand its operations in North America.

The materials group, which includes precious and base metals
miners and fertilizer companies, added 0.7 percent.

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