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CANADA STOCKS-TSX falls as oil, weak growth weigh on energy, bank stocks

Published 2016-06-30, 10:15 a/m
© Reuters.  CANADA STOCKS-TSX falls as oil, weak growth weigh on energy, bank stocks
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(Adds details from early trade, updates prices)
* TSX down 57 points, or 0.41 percent, at 13,979.74
* Six of the TSX's 10 main groups fall
* Index heads for 0.7 pct gain in short week; 0.7 pct loss
in June

TORONTO, June 30 (Reuters) - Canada's main stock index
slipped on Thursday as a fall in oil prices weighed on energy
stocks and financials retreated on data pointing to weak
domestic economic growth.
The index, whose heavy concentration of gold miners helped
limit the selloff in the wake of Britain's vote to leave the
European Union last week, is on track for a 0.7 percent gain on
the week and a 0.5 percent loss for the month.
It will be closed on Friday for a national holiday.
Investors pushed the price of bullion to a two-year high
after the Brexit vote, while world stocks are poised for their
worst month since January.
At 9:54 a.m. EDT (1354 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was down 57 points, or 0.41
percent, at 13,979.74.
There were two decliners for every advancer, and six of the
index's 10 main groups were in negative territory.
The most influential weights were its biggest banks, with
Royal Bank of Canada RY.TO down 0.5 percent to C$76.49,
Toronto-Dominion Bank TD.TO off 0.3 percent at C$55.40, and
Bank of Nova Scotia BNS.TO fell 0.8 percent to C$63.29.
The Canadian economy grew 0.1 percent in April from March,
Statistics Canada said, paving the way for a sickly second
quarter on the back of devastation caused by wildfires in
Alberta. ECONCA
Canadian Imperial Bank of Commerce CM.TO , which on
Wednesday said it was buying a U.S. bank, fell 0.9 percent to
C$97.06.
Brookfield Asset Management Inc BAMa.TO fell 1.1 percent
to C$42.45 after reporting a 12.13 percent stake in TerraForm
Power Inc TERP.O , one of the two units of bankrupt solar
company SunEdison Inc SUNEQ.PK .
The financials group lost 0.6 percent.
The energy group retreated 1.1 percent as oil CLc1 LCOc1
slipped on rising supplies and lingering concern about the
economic fallout from the Brexit referendum vote. O/R
Superior Plus Corp SPB.TO rose 0.7 percent to C$10.35
after terminating a deal to buy Canexus Corp CUS.TO . Canexus
advanced 4.7 percent to C$1.34.
The materials group, which includes precious and base metals
miners and fertilizer companies, added 0.3 percent.
Barrick Gold Corp ABX.TO advanced 1.4 percent to C$27.32
and Goldcorp Inc G.TO gained 0.3 percent to C$24.46.

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