(Corrects to show DH Corp fell ahead of, not after, earnings
report in final paragraph)
* TSX ends down 162.76 points, or 1.17 percent, at 13,790.90
* Nine of index's 10 main groups fall
By Alastair Sharp
TORONTO, Oct 26 (Reuters) - Canada's main stock index fell
on Monday as resources stocks weighed and investors remained
skittish about Valeant Pharmaceuticals (N:VRX) despite its attempts to
address recent allegations made against it by an influential
short-seller.
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE ended down 162.76 points, or 1.17 percent, at
13,790.90.
Nine of the index's 10 main groups fell, led by a 5 percent
retreat for the heavyweight energy group, a 4 percent loss for
materials stocks, and a 5.2 percent drop in consumer staples.
The losses among resource stocks were much sharper than any
slips in prices for the underlying commodities they extract,
refine or transport.
"The month has been marked by this very strong move on very
little information, and the market is now digesting it and
saying 'there's not a lot here'," said John Stephenson,
president at Stephenson & Company Capital Management.
The most influential single weight was Valeant VRX.TO ,
down 4.8 percent at C$145.34, after it laid out a detailed
defense of its relationship with a specialty pharmacy that
failed to calm all investor concerns.
"The nagging sense is why are we hearing about this at the
last minute and given that we're hearing about it at the last
minute, what else aren't they telling us," Stephenson said.
The most influential movers in the energy group were
pipeline operator Enbridge Inc ENB.TO , down 2.2 percent at
C$55.63, and Canadian Natural Resources CNQ.TO , which declined
2.5 percent to C$30.32.
U.S. crude CLc1 prices settled down 1.4 percent at $43.98
a barrel, while Brent crude LCOc1 lost 1.2 percent to $47.42.
O/R
Gold miners were also among the weights even as bullion
steadied after a three-day losing streak, with Goldcorp Inc
G.TO declining 4 percent to C$19.66 and Barrick Gold Corp
ABX.TO falling 3.2 percent to C$9.88. GOL/
Gildan Activewear Inc GIL.TO declined 6.5 percent to
C$35.63 after an analyst downgrade.
Financial technology company DH Corp DH.TO fell 16.9
percent to C$32.11 ahead of its quarterly earnings report.