* TSX down 15.87 points, or 0.1 percent, to 15,144.55
* Seven of the TSX's 10 main groups were down
* Consumer staples down 2.3 percent
* Consumer discretionary down 1.2 percent
By Solarina Ho
TORONTO, June 16 Canada's main stock index fell
on Friday, as shares of grocers and other consumer staple
companies took a beating on news that internet retail company
Amazon.com Inc was buying Whole Foods Market Inc
Amazon announced before markets opened that it was
purchasing the U.S. organic supermarket chain for $13.7 billion,
including debt, marking its biggest foray into the
brick-and-mortar retail sector.
The Canadian consumer staples sector tumbled as much as 3.36
percent in its sharpest fall since October 2008 before it pared
losses to 2.3 percent.
The country's largest grocery chain operators all declined
Loblaw Companies Ltd, which has more than 2,300
corporate, franchised and associate-owned grocery stores and
pharmacies across Canada, was down 3.8 percent to C$72.61, after
falling as much as 5.8 percent.
Empire Company Ltd, which has about 1,500 Canadian
stores operating under banners including Sobeys and FreshCo,
fell 3.3 percent to C$18.80. Metro Inc, which operates
some 600 supermarkets in Quebec and Ontario, fell 4.1 percent to
At 11:05 a.m. ET (1505 GMT), the Toronto Stock Exchange's
S&P/TSX composite index fell 15.87 points, or 0.1
percent, to 15,144.55. Of the index's 10 main groups, seven lost
Consumer discretionary shares also retreated sharply,
declining 1.2 percent, with Magna International Inc
taking a 3.8 percent hit to trade at C$57.73.
Dollarama Inc slid 1.5 percent to C$121.45, while
Canadian Tire Corp fell 1.7 percent to C$146.90.
The materials group, which includes precious and base metals
miners and fertilizer companies, lost 0.6 percent.
Teck Resources Ltd fell 5.2 percent to C$20.46,
extending losses from the previous session after the miner said
it was lowering its forecast of the average realized price for
its steelmaking coal in the second quarter. Several analysts cut
its target price on the news.
The energy group was one of the few gainers, climbing 0.6
percent on the back of firmer crude oil prices. U.S. crude
prices were up 0.4 percent to $44.64 a barrel.
Pipeline operator Enbridge Inc rose 1.5 percent to
Declining issues outnumbered advancing ones on the TSX by
136 to 105, for a 1.30-to-1 ratio on the downside.
(Reporting by Solarina Ho; Editing by W Simon)