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CANADA STOCKS-TSX slips as CN Rail, Shopify weigh; RBC up after earnings beat
November 29, 2017 / 3:25 PM / 18 days ago

CANADA STOCKS-TSX slips as CN Rail, Shopify weigh; RBC up after earnings beat

(Adds details, updates prices)

* TSX down 13.92 points, or 0.09 percent, at 16,015.72

* Six of the TSX’s 10 main groups move lower

TORONTO, Nov 29 (Reuters) - Canada’s main stock index ticked lower on Wednesday, hurt by a sharp fall in the shares of Canadian National Railway Co, while an earnings beat helped push Royal Bank of Canada higher.

* At 10:15 a.m. ET (1515 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 13.92 points, or 0.09 percent, at 16,015.72.

* CN Rail fell as much as 4.9 percent, to its lowest level since March, and was last down 2.8 percent at C$97.18. Its main rival, Canadian Pacific Railway Ltd, said it was adding several senior sales executives.

* Royal Bank of Canada rose 0.6 percent to C$101.06 after the country’s biggest bank by market value reported fourth-quarter earnings that beat expectations.

* Shopify Inc fell 4.6 percent to C$136.89, erasing gains the e-commerce software company’s stock had made after the Black Friday and Cyber Monday shopping days.

* The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.7 percent as prices for gold as well as copper, aluminum and other base metals fell.

* Potash Corp added 0.9 percent to C$25.16 after its chief executive said he expects a “very tight” balance of potash supply and demand in 2018 and that the company had received “broad interest” from Chinese buyers interested in its stake in a Chilean lithium producer.

* Six of the index’s 10 main sectors were lower, with decliners and advancers evenly matched overall. (Reporting by Alastair Sharp; editing by Jonathan Oatis)

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