(Adds portfolio manager quote, updates prices)
* TSX down 126.4 points, or 0.94 percent, to 13,356.22
* Nine of TSX's 10 main groups lower
By Fergal Smith
TORONTO, Nov 10 (Reuters) - Canada's main stock index
retreated after weak Chinese inflation data added to concern
about the outlook for global growth, putting pressure on energy
and materials stocks.
And Valeant Pharmaceuticals (N:VRX) Inc VRX.TO fell more than 5
percent after chief executive Mike Pearson (L:PSON) said that cutting
ties with a controversial specialty pharmacy would hurt
Valeant's dermatology business in the short term. urn:newsml:reuters.com:*:nL1N135104
At 11:13 am ET (1613 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE fell 126.4 points, or 0.94
percent, to 13,356.22.
Of the index's 10 main groups, nine were in negative
territory.
The energy group retreated 0.9 percent despite a bounce in
crude oil.
A report by the U.S. IEA said oil was unlikely to return to
$80 a barrel before the end of the decade, despite cuts in
investment, as annual demand growth struggles to top 1 million
barrels per day. urn:newsml:reuters.com:*:nL3N1351SC
"That adds to the overall negative mood for the TSX, said
Shailesh Kshatriya, director for Canadian strategies at Russell
Investments Canada. "The oversupply story, they don't expect
that to go away any time soon."
Brookfield Asset Management BAMa.TO rose 1.6 percent after
its offer for Australian stevedoring and rail company Asciano
Ltd was narrowly eclipsed by a rival offer from Qube Holdings
Ltd. urn:newsml:reuters.com:*:nL3N13467P
The materials group retreated 1.5 percent, under pressure
from weakness in base and precious metal prices, while the
financials group fell 0.4 percent.
Adding to the negative backdrop for energy stocks, the U.S.
rejection last week of the Keystone XL pipeline has given oxygen
to green groups that focus on keeping the most carbon-intensive
fossil fuels in the ground before they even are burned.
urn:newsml:reuters.com:*:nL1N1341NF
U.S. crude CLc1 prices were up 1.5 percent to $44.53 a
barrel, while Brent crude LCOc1 added 0.8 percent to
$47.58. O/R
Gold futures GCc1 fell 0.2 percent to $1,085.7 an ounce.
GOL/
Copper prices CMCU3 declined 0.8 percent to $4,923 a
tonne. MET/L