Canada Stocks Fall to Pare Third Straight Annual Advance

Canadian stocks fell, trimming a third straight annual advance, bank and phone shares declined to offset a rally among producers of consumer staples.

PrairieSky Royalty Ltd. dropped 3.1 percent to lead declines in the Standard & Poor’s/TSX Composite Index. Alimentation Couche-Tard Inc. rose 0.9 percent to extend a record. Amaya Inc., the best-performing Canadian stock in 2014, rose 1 percent. Air Canada climbed 0.9 percent for a fourth straight advance.

The S&P/TSX fell 7.6 points, or 0.1 percent, to 14,632.44 at 4 p.m. in Toronto. The index lost 0.8 percent this month, trimming its gain in 2014 to 7.4 percent. The benchmark equity gauge is the eighth best performer among developed markets.

Trading volume was 57 percent lower than the 30-day average today.

Energy shares were little changed today, bringing the group’s annual loss to 7.8 percent, the worst since 2011. Oil futures slid 1.6 percent in New York, extending losses for 2014 to 46 percent as U.S. producers and the Organization of Petroleum Exporting Countries battled this year for market share amid a supply glut.

Financials, raw-materials and energy stocks are the three biggest laggards this year in Canada for the first time since at least 1988, fueling concerns about the nation’s economic recovery as crude prices plunged into a bear market, gold fluctuated and bank earnings slowed.

The three groups, which account for about two-thirds of the S&P/TSX, are the worst performers among 10 groups.

Producers of consumer staples, technology shares and health-care stocks have paced gains in the index, rising at least 30 percent this year.

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