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CANADA STOCKS-TSX falls as lower oil prices weigh on energy shares

Published 2016-10-24, 11:20 a/m
© Reuters.  CANADA STOCKS-TSX falls as lower oil prices weigh on energy shares
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(Adds details on stocks and sectors throughout, updates prices)

* TSX down 48.27 points, or 0.32 percent, at 14,890.77

* Five of the TSX's 10 main groups were lower

TORONTO, Oct 24 (Reuters) - Canada's main stock index fell on Monday as lower oil prices weighed on energy shares and as Restaurant Brands International Inc QSR.TO declined after reporting quarterly earnings.

The owner of Burger King and Tim Hortons reported a second straight quarter of decline in comparable sales at Burger King in the United States and Canada. Restaurant Brands International shares fell 3.3 percent to C$60.55. Bank TD.TO and TD Ameritrade are buying Scottrade Financial Services for $4 billion in a deal that would combine two of the biggest U.S. discount brokerages, the companies said. Shares of Toronto-Dominion Bank rose 0.5 percent to C$60.30. biggest drags on the index included some of the country's major energy pipeline companies. Enbridge Inc ENB.TO fell 1.3 percent to C$58.00 and TransCanada Corp TRP.TO declined 1.6 percent to C$61.82.

The overall energy group declined 0.4 percent as oil prices fell.

U.S. crude CLc1 prices were down 1.3 percent to $50.17 a barrel as Iraq said it wanted to be exempt from a deal by the Organization of the Petroleum Exporting Countries to cut production. O/R

At 10:56AM EDT (1456 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE fell 48.27 points, or 0.32 percent, to 14,890.77.

Last week, the index rose 2.4 percent, while Friday's close was the highest in 16 months.

Losses for the index came despite encouraging domestic data. The value of Canadian wholesale trade increased in August for a fifth consecutive month, rising by 0.8 percent on higher sales of agricultural supplies and machinery equipment, Statistics Canada said. materials group, which includes precious and base metals miners and fertilizer companies, lost 1.7 percent.

Barrick Gold fell 2.4 percent to C$22.03, while spot gold XAU= was down 0.3 percent as the U.S. dollar .DXY reached a nearly nine-month high against a basket of major currencies.

Six of the index's 10 main groups were lower.

Among groups that gained ground, heavily weighed financials firmed 0.1 percent, while consumer staples rose 0.5 percent and information technology was up 0.4 percent.

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