* TSX down 55.67 points, or 0.38 percent, at 14,448
* Eight of the TSX's 10 main groups lower
OTTAWA, Sept 16 Canada's main stock index
weakened on Friday as lower oil prices dragged down energy
shares, while the bank sector sagged as part of a global selloff
after recent strong gains.
Investors dumped shares of banks in North America and Europe
after the U.S. Department of Justice told Deutsche Bank
to pay $14 billion to settle an investigation into
its selling of mortgage-backed securities, a far bigger bill
On Bay Street, the financials group slipped 0.7
percent, with Royal Bank of Canada off 0.9 percent at
While trading in bank shares in Canada has been choppy in
the past week, the sector rose in the past two sessions,
including a 1 percent gain on Thursday. Banks are up nearly 11
percent so far this year.
At 10:56 a.m. EDT (1456 GMT), the Toronto Stock Exchange's
S&P/TSX composite index was down 55.67 points, or 0.38
percent, at 14,448. Eight of the index's 10 main groups were in
For the week, the index was down 0.6 percent, on track for
its fourth negative week in five.
The energy group also weighed on the index, losing 0.5
percent as U.S. crude oil prices were down 1.1 percent at
$43.41 a barrel on concerns that the global supply glut would
Shares of Suncor Energy fell 0.5 percent to C$34.28.
Declining issues outnumbered advancers on the TSX by 148 to
82, for a 1.80-to-1 ratio on the downside. The index was posting
no new 52-week highs and 2 new lows.
(Reporting by Leah Schnurr; Editing by Lisa Von Ahn)