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CANADA STOCKS-TSX tumbles to lowest since mid-2013 as oil falls further

Published 2016-01-07, 10:55 a/m
© Reuters.  CANADA STOCKS-TSX tumbles to lowest since mid-2013 as oil falls further
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(Adds details, updates prices)
* TSX down 191.09 points, or 1.5 percent, at 12,535.71
* Nine of the TSX's 10 main groups fall

TORONTO, Jan 7 (Reuters) - Canada's main stock index plunged
to its lowest since mid-2013 on Thursday as investors worried
about a Chinese equity capitulation and oil prices pushed ever
lower.
Losses were broad and deep, with energy stocks retreating
3.1 percent, industrials shedding 2.6 percent and financials
losing 1.5 percent. Twenty-eight stocks were posting fresh
52-week lows.
At 10:45 a.m. EST (1545 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE fell 191.09 points, or 1.5
percent, to 12,535.71.
At one point it touched 12,482.93, its lowest level since
August 2013.
Of the 10 main sectors, only the materials group sat in
positive territory, thanks to gains in gold miners as bullion
hit a seven-week high. GOL/
The tumult in China, where equity trading was suspended for
a second time this week, has hurt markets across the globe as
investors worry about weaker demand from the world's
second-largest economy. MKTS/GLOB
Oil slid below $33 a barrel as the troubles in China added
to concern about near-record production and massive stockpiles
of unwanted crude and refined products. O/R
The most influential weights on the Canadian index included
Canadian National Railway CNR.TO , which fell 2.6 percent to
C$71.52, Suncor Energy Inc SU.TO , which declined 2.8 percent
to C$33.13 and Canadian Natural Resources CNQ.TO , which lost
3.7 percent to C$28.26.
U.S. crude CLc1 prices were last down 1 percent to $33.62
a barrel, while Brent LCOc1 lost 0.7 percent to $33.98 a
barrel.
Royal Bank of Canada RY.TO declined 1.4 percent to C$70.58
and Manulife Financial MFC.TO declined 3.1 percent to C$19.12.
Gold futures GCc1 rose 1.3 percent to $1,106.5 an ounce,
and the top five gainers of the index were all gold miners.
GOL/
Copper prices CMCU3 declined 2.8 percent to $4,493 a
tonne. MET/L

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