* TSX down 157.16 points, or 1.08 percent, at 14,439.98
* All of the TSX's 10 main groups fall
TORONTO, Sept 13 Canada's main stock index fell
more than 1 percent on Tuesday as slumping oil prices weighed on
energy shares and heavyweight banking and mining stocks also
Pipeline companies were among the biggest drags, with
Enbridge Inc falling 1.3 percent to C$58.02 and
TransCanada Corp down 0.8 percent to C$61.07.
Major energy producers also retreated, with Canadian Natural
Resources Ltd off 1.7 percent to C$39.62 and Suncor
Energy Inc declining 1.1 percent to C$34.54.
Overall, the energy group lost 1.5 percent as oil prices
weakened on gloomy outlooks for crude consumption.
The International Energy Agency (IEA) on Tuesday said a
sharp slowdown in global oil demand growth, coupled with
ballooning inventories and rising supply, means the crude market
will be oversupplied at least through the first six months of
That followed a surprisingly bearish outlook from OPEC on
The financials group fell 1 percent, with Royal Bank of
Canada down 0.9 percent to C$79.96 and Bank of Nova
Scotia declining 1.3 percent to C$68.74.
At 9:50 a.m. EDT (1350 GMT), the Toronto Stock Exchange's
S&P/TSX composite index was down 157.16 points, or
1.08 percent, at 14,439.98.
All of the index's 10 main groups were in negative
territory, with 10 decliners for every gainer.
Open Text Corp added to a sharp gain in the
previous session after agreeing to buy assets from a rival,
advanced 1.3 percent to C$86.09.
Industrials fell 0.5 percent, while the materials group,
which includes precious and base metals miners and fertilizer
companies, lost 1.5 percent.
Agrium Inc and Potash Corp posted a second
straight day of losses after the pair agreed to combine to
navigate a severe industry slump by boosting efficiency and
cutting costs, but the new company's potential pricing power may
attract tough regulatory scrutiny.
Agrium was down 2.3 percent at C$118.27 and Potash Corp lost
1.7 percent to C$21.45.
U.S. crude prices were down 1.5 percent to $45.61 a
barrel, while Brent crude lost 0.9 percent to $47.87.
(Reporting by Alastair Sharp Editing by W Simon)