(Adds portfolio manager quotes, details, updates prices)
* TSX down 226.64 points, or 1.74 percent, at 12,789.95
* All of the TSX's 10 main groups fall; energy stocks down
3.3 pct
* Index fell 4.3 percent over the week
By Fergal Smith
TORONTO, Dec 11 (Reuters) - Canada's main stock index saw
renewed selling pressure on Friday following a two-day respite,
recording its weakest close in more than two years, including
deep losses for financial and energy stocks as crude oil prices
hit fresh lows.
The selling has been "self perpetuating," according to Barry
Schwartz, vice president and portfolio manager at Baskin
Financial Services, adding that "we have concerns about oil and
high yield"
Oil prices extended their freefall, flirting with 11-year
lows, after the International Energy Agency (IEA) warned that
global oversupply of crude could worsen next year.
U.S. crude CLc1 prices settled at $35.62 a barrel, down
3.1 percent, while Brent crude LCOc1 lost 5.1 percent to
$37.71. O/R
Energy stocks lost 3.3 percent, with Enbridge Inc ENB.TO
down 4.5 percent at C$41.52 and Canadian Natural Resources
CNQ.TO down 3.2 percent at C$28.99.
The heavily weighted financial sector fell 1.7 percent, with
Royal Bank of Canada RY.TO falling 1.6 percent to C$72.99 and
Manulife Financial Corp MFC.TO down 2.6 percent at C$20.47.
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE fell 226.64 points, or 1.74 percent, to 12,789.95,
with all 10 of the index's main groups in negative territory.
The index fell 4.3 percent over the week, moving back in
sight of the intra-day low seen on Aug. 24 at 12,705.17.
Hudson's Bay Co HBC.TO slumped 12.6 percent to C$17.40
after cutting its sales forecast for this year and next in an
earnings report late on Thursday.
On the positive side, the maker of Ski-Doo snowmobiles and
Sea-Doo watercraft, BRP Inc DOO.TO , advanced 9.1 percent to
C$22.01 after reporting soaring profit helped by favorable
exchange rates.
Gold stocks also rallied, including a 2.0 percent gain for
Goldcorp Inc G.TO to C$16.51, helped by a 0.3 percent rise in
the price of spot gold to $1,074.72 an ounce.