* TSX falls 12.42 points, or 0.08 percent, to 15,430.25
* Four of the TSX's 10 main groups decline
TORONTO, March 27 Canada's main stock index
seesawed on Monday as lower oil prices weighed on the energy
sector, offsetting gains for gold shares amid heightened demand
for safe-haven assets like precious metals.
On global markets, U.S. President Donald Trump's failure to
win enough congressional support for medical insurance reform
was bearish for stocks but bullish for government bonds, whose
The financials group lost 0.3 percent. Manulife Financial
Corp dropped nearly 2 percent to C$22.94, and
Toronto-Dominion Bank declined 0.6 percent to C$64.81.
Higher bond yields would reduce the value of insurance
companies' liabilities and increase net interest margins of
The energy group fell 0.8 percent as oil prices declined on
uncertainty over whether an Organization of the Petroleum
Exporting Countries-led production cut will be extended beyond
June in an effort to counter a glut of crude.
U.S. crude prices were down 1.44 percent at $47.28 a
barrel, while Suncor Energy Inc fell 0.8 percent to
At 10:40 a.m. ET (1440 GMT), the Toronto Stock Exchange's
S&P/TSX composite index shed 12.42 points, or 0.08
percent, to 15,430.25.
The TSX had ended last week with two straight days of gains
after Canada's government held off from raising taxes on
investors in its budget, and the United States approved
TransCanada Corp's Keystone XL pipeline.
On Monday, four of the index's 10 main groups were lower.
The materials group, which includes precious and base metals
miners and fertilizer companies, added 0.8 percent, with Barrick
Gold Corp climbing 1.4 percent to C$26.07.
Spot gold was up 1.2 percent at $1,259.11 an ounce,
having touched a one-month high earlier in the session.
(Reporting by Fergal Smith Editing by W Simon)