TSX slips as energy shares decline
Updated at 10:21 a.m. ET/ 1421 GMT
By Nikhil Sharma
Sept 10 (Reuters) -Canada's main stock index fell on Tuesday as energy shares slid, while investor caution ahead of U.S. inflation data also weighed on the overall losses.
At 10:08 a.m. ET (14:08 GMT), the S&P/TSX composite index .GSPTSE was down 148.94 points, or 0.65%, at 22,878.21.
At least nine major sectors on the index nursed losses.
Energy shares .SPTTEN led the sectoral losses with a 3% fall, as oil prices edged lower on a weaker demand outlook and global oil oversupply risks. O/R
A bigger driver of the overall market loss was Wall Street, where the S&P 500 index .SPX was marginally down as investors awaited U.S. inflation data and signals on how far and fast the Federal Reserve will cut rates.
Money markets unanimously see the Fed's first rate cut this cycle at the Sept. 18 policy meeting.
Lagging shares on the TSX wereMethanex Corp MX.TO, down 4.5%, Baytex Energy Corp BTE.TO, down 3.4%, and Precision Drilling Corp PD.TO, down 3%.
The leading shares were Kinross Gold Corp K.TO, up 2.5%, and Aya Gold & Silver Inc AYA.TO, up 2.3%.
Sixty-two issuesrose and 160 fell on the index asa 0.4-to-1 ratio favored decliners. There were 10 new highs and eight new lows, with total volume of 30.5 million shares.
The most heavily traded shares by volume were Canadian Natural Resources Ltd CNQ.TO, Suncor Energy Inc SU.TO and Baytex Energy Corp BTE.TO.
West Texas Intermediate crude futures CLc1 fell 3.26%, or $2.27, to $66.44 a barrel. Brent crude LCOc1 fell 3.08%, or $2.21, to $69.63 O/R
The TSX is up 9.3% for the year.
Reporting by Nikhil Sharma in Bengaluru; Editing by Shreya Biswas
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