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CANADA STOCKS-TSX falls as energy stocks weigh; Shopify jumps
November 27, 2017 / 3:37 PM / 20 days ago

CANADA STOCKS-TSX falls as energy stocks weigh; Shopify jumps

(Adds details on specific stocks, updates prices)

* TSX down 24.33 points, or 0.15 percent, at 16,083.76

* Seven of the TSX’s 10 main groups move higher

TORONTO, Nov 27 (Reuters) - Canada’s main stock index slipped on Monday, with its heavyweight energy companies falling as U.S. crude prices came off two-year highs, while ecommerce company Shopify Inc gained as the holiday shopping season kicked off.

* At 10:19 a.m. ET (1519 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 24.33 points, or 0.15 percent, at 16,083.76. Seven of its 10 main sectors were in positive territory.

* The energy group, which accounts for almost a fifth of the index’s weight, retreated 1.6 percent. Pipeline company Enbridge Inc was off 1.8 percent at C$46.53 and producer Canadian Natural Resources Ltd fell 2 percent to C$43.18.

* U.S. crude prices were down 1.7 percent at $57.98 a barrel, while Brent lost 0.7 percent to $63.43.

* Shopify Inc was up 4.6 percent at C$148.78, after saying that it processed more than $1 million in sales a minute for its merchants at the peak of Black Friday shopping activity.

* The financials group gained 0.3 percent while industrials fell 0.2 percent and the materials group, which includes precious and base metals miners and fertilizer companies, lost 0.2 percent.

* Kirkland Lake Gold Ltd rose 4.4 percent to C$18.44 after Desjardins raised the stock to a “buy” recommendation and increased its price target for the stock to C$24.

* Hudson’s Bay Co was down 1 percent at C$11.20 after the retailer said almost two-thirds of its shareholders support Rhone Capital’s $500 million investment, which is opposed by activist fund Land and Buildings LLC. (Reporting by Alastair Sharp; Editing by Andrew Hay)

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