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TSX slips as Hudson's Bay sinks, energy stocks weigh


Reuters

By Alastair Sharp

TORONTO, Dec 6 (Reuters) - Canada's main stock index ended barely lower on Wednesday, weighed by a slump in department store operator Hudson's Bay Co after it reported a deeper-than-expected loss and as energy stocks fell with lower oil prices.

* The Toronto Stock Exchange'sS&P/TSX composite index closed down 6.9 points, or 0.04 percent, at 15,908.78.

* The energy group lost 2.2 percent, with Encana Corp off 4 percent at C$14.70 and Cenovus Energy Inc down 3.3 percent at C$11.87, as oil prices settled at a two-week low on a surprise rise in U.S. fuel stock.

* Hudson's Bay ended down 13.0 percent at C$10.35 after the dismal quarterly performance. The owner of the Saks Fifth Avenue luxury retailer said the loss was due to lower traffic, steep discounts and the effects of the hurricanes in Texas, Florida and Puerto Rico.

* The heavyweight financial group gained 0.2 percent, industrials rose 0.7 percent, and consumer staples gained 1 percent.

* Dollarama Inc lost 2.1 percent to C$149.73, recovering from steeper losses earlier, as discount store chain's third-quarter profit topping estimates, but comparable store sales missed estimates.




This article appears in: World Markets , US Markets , Stocks


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