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CANADA STOCKS-TSX falls as materials, banks offset energy gains

Published 2016-09-08, 10:28 a/m
© Reuters.  CANADA STOCKS-TSX falls as materials, banks offset energy gains
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(Adds details on specific stocks, updates prices)

* TSX down 28.76 points, or 0.19 percent, at 14,767.99

* Nine of the TSX's 10 main groups fall

TORONTO, Sept 8 (Reuters) - Canada's main stock index slipped on Thursday as losses for materials and banking stocks canceled out gains for energy companies as oil prices rose.

The heavyweight energy group climbed 0.6 percent, the only one of 10 major sectors to gain.

At 10:18 a.m. EDT (1418 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 28.76 points, or 0.19 percent, at 14,767.99.

Among the most influential gainers was Enbridge Inc ENB.TO , which rose 3.7 percent to C$58.52. The pipeline company's stock has jumped about 12 percent since announcing a major acquisition earlier this week. prices rose nearly 2 percent after U.S. industry data showed a large drawdown in crude stocks, reflecting the impact of an Atlantic storm. materials group, which includes precious and base metals miners and fertilizer companies, fell 1.2 percent, while the financials group slipped 0.4 percent.

Potash Corp POT.TO fell 2.1 percent to C$22.29.

The value of Canadian building permits issued in July rose by 0.8 percent from June, led by authorizations to construct non-residential buildings, Statistics Canada said. Bank of Canada RY.TO dropped 0.6 percent to C$80.89 and Toronto-Dominion Bank TD.TO was also off 0.6 percent, at C$58.16.

TD's CEO said on Wednesday that the bank is keen on acquisition opportunities, especially in its home market of Canada and in the United States. Group declined 2.4 percent to C$62.81 after the IT and business process services company announced the retirement of its CEO. fell 0.5 percent, with Canadian Pacific Railway Ltd CP.TO down 1.3 percent at C$198.38 and Canadian National Railway Co CNR.TO off 0.7 percent at C$83.36.

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