June 7, 2017 / 3:57 PM / 2 months ago

CANADA STOCKS-TSX falls as oil price dip puts pressure on energy shares

(Adds details throughout on sectors and stocks; updates prices)

* TSX falls 101.49 points, or 0.66 percent, to 15,363.07

* Nine of the index's 10 main groups lose ground

* Energy falls 2.8 percent

TORONTO, June 7 (Reuters) - Canada's main stock index fell on Wednesday as a sharp drop in oil prices put pressure on energy shares, while the financials group was little changed even as an analyst upgrade boosted insurer Sun Life Financial Inc.

Some of the biggest weights on the index were Canadian Natural Resources Ltd falling 3.0 percent to C$38.42 and the overall energy group was down 2.8 percent.

Oil extended earlier losses after U.S. data showed a surprise build in U.S. crude inventories. U.S. crude prices were down 4.2 percent at $46.19 a barrel.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.8 percent.

Gold prices dipped but held near seven-month highs with sentiment still bullish because of political uncertainty created by two events on Thursday - a general election in Britain and U.S. Senate testimony by former FBI director James Comey, who was fired by President Donald Trump in May.

Telecommunication shares lost 1.4 percent. Still, the group has rallied more than 13 percent since mid-November.

At 11:41 a.m. ET (1541 GMT), the Toronto Stock Exchange's S&P/TSX composite index fell 101.49 points, or 0.66 percent, to 15,363.07. Nine of the index's 10 main groups were lower.

The financial services group was the lone group not to fall, trading near flat. It was helped by a 2.4 percent gain for Sun Life Financial to C$44.86 after RBC raised its rating on the stock to outperform from sector perform.

Canadian dollar-store operator Dollarama Inc reported a better-than-expected profit for the eighth straight quarter, as customers on average spent more at its stores, sending shares to an all-time high. Its shares rose 0.3 percent to C$128.38

Blackberry Ltd. rose 0.5 percent to C$15.07. The company said it has developed new software for running complex computer systems on vehicles that will be bundled with semiconductors sold by Qualcomm Inc QCOM.O. (Reporting by Fergal Smith; editing by Grant McCool)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below