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CANADA STOCKS-TSX loses most in three months as energy stocks fall with oil

Published 2017-11-14, 05:01 p/m
© Reuters.  CANADA STOCKS-TSX loses most in three months as energy stocks fall with oil
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* TSX ends down 113.13 points, or 0.71 percent, at 15,913.13

* Fall is sharpest one-day drop since Aug. 10

* Eight of the TSX's 10 main groups move lower

By Alastair Sharp

TORONTO, Nov 14 (Reuters) - Canada's main stock index had its largest one-day fall in three months on Tuesday as lower oil prices pressured its heavyweight energy sector while mining stocks also pulled the index further from the all-time high it hit earlier this month.

The energy group retreated 3.3 percent as rising U.S. output and a gloomy outlook for global demand weighed, with Canadian Natural Resources Ltd CNQ.TO shedding 4.5 percent to C$43.82 and Suncor Energy Inc SU.TO off 1.4 percent at C$45.56.

Cenovus Energy Inc CVE.TO , which said on Monday it had reached a deal to sell its Weyburn oil facility for C$940 million ($737 million), fell 4.9 percent to C$13.25. Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed down 113.13 points, or 0.71 percent, at 15,913.13. That was its sharpest one-day fall since Aug. 10.

Energy stocks account for roughly a fifth of the index's overall weight. Eight of the index's 10 main groups ended in negative territory, with five decliners for every two advancers.

Canadian mining companies were also pressured by a global commodities selloff, led by base metals like nickel and copper, due to weaker-than-expected economic data from China.

First Quantum Minerals Ltd FM.TO lost 5.2 percent to C$15.37 and Teck Resources Ltd TECKb.TO fell 3 percent to C$26.97.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.9 percent.

The financials group, which accounts for more than a third of the index's weight, slipped 0.2 percent, with Brookfield Asset Management Inc BAMa.TO down 1.9 percent at C$52.69.

Premium Brands Holdings Corp PBH.TO dropped 6.6 percent to C$95.15 after it reported earnings and revenue that missed expectations and reduced its 2017 organic volume growth forecast.

On the other side of the ledger, Bombardier Inc BBDb.TO advanced 1.6 percent to C$3.11 after saying it expects to finalize two recently announced orders for its CSeries jets by the end of the year. = 1.2752 Canadian dollars)

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