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CANADA STOCKS-TSX retreats as tumbling oil prices hammer energy shares

Published 2018-11-23, 04:24 p/m
© Reuters.  CANADA STOCKS-TSX retreats as tumbling oil prices hammer energy shares
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* TSX closes down 80.80 points, or 0.5 percent, at 15,010.78

* Two of the TSX's 10 main groups end lower

TORONTO, Nov 23 (Reuters) - Canada's main stock index fell on Friday to complete its worst week in nearly a month as a dive in oil prices hammered shares of energy companies.

* The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed down 80.80 points, or 0.5 percent, at 15,010.78. For the week, the TSX declined nearly 1 percent.

* Just two of the index's 10 major sectors were in negative territory, as a 4.7 percent drop in the energy sector .SPTTEN led declines.

* U.S. oil CLc1 prices slumped nearly 8 percent to the lowest in more than a year amid intensifying fears of a supply glut even as major producers consider cutting output. The other weak spot was the materials sector .GSPTTMT , which houses precious and base metals miners. It lost 2.3 percent after gold XAU= slipped as the dollar .DXY regained momentum. GOL/ MET/L

* Torex Gold Resources Inc TXG.TO declined 14.0 percent to C$9.88, while New Gold Inc NGD.TO was down 9.2 percent at C$1.09.

* Domestic data showed above-target inflation but markets saw few signs that the Bank of Canada would hike interest rates next month. Among the most active Canadian stocks by volume were Bombardier Inc BBDb.TO , down 4.0 percent to $2.40.

* Volume on the TSX index was lighter than usual at 154.84 million shares. U.S. stocks also closed lower, in a shortened post-holiday trading session. .N

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