CANADA STOCKS-TSX slips on global growth concerns

Wed Jun 11, 2014 10:51am EDT

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* TSX down 45.97 points, or 0.31 percent, at 14,858.41
    * Eight of 10 main index sectors decline
    * Energy shares fall despite higher oil prices

    By John Tilak
    TORONTO, June 11 (Reuters) - Canada's main stock index
declined on Wednesday as a sluggish outlook for the global
economy spurred declines in the heavyweight energy and financial
sectors.
    The World Bank on Tuesday trimmed its global growth
forecast, saying a confluence of events, from the Ukraine crisis
to unusually cold weather in the United States, dampened
economic expansion in the first half of the year.
 
    The Canadian benchmark eased after gaining in the previous
eight sessions. It is still up more than 9 percent this year. 
    "The market has been going up relentlessly, and it's due for
a pullback once in a while and today we're getting one," said
Colin Cieszynski, senior market analyst at CMC Markets Canada.
    The Toronto Stock Exchange's S&P/TSX composite index
 was down 45.97 points, or 0.31 percent, at 14,858.41.
Eight of the 10 main sectors on the index were in the red.
    Financials, the index's most heavily weighted sector, were
down 0.2 percent. Bank of Nova Scotia lost 0.2 percent
to C$70.69, and Royal Bank of Canada gave back 0.2
percent to C$75.07.
    Shares of energy producers shed 0.5 percent, despite higher
oil prices. Canadian Natural Resources Ltd fell 0.5
percent to C$45.93, and TransCanada Corp slipped 0.2
percent to C$50.32.

 (Editing by Meredith Mazzilli)
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