Economics
Canada Stocks Fall as Energy Shares Overshadow Rally in Miners
- Crude oil’s retreat drags down oil and gas companies
- West Fraser Timber surges as earnings, sales beat estimates
Tuesday's Canadian Stock Movers
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Canadian stocks fell for a second day as a selloff in crude dragged energy producers lower, overshadowing a rally in raw materials paced by West Fraser Timber Co. Ltd. and gold miners.
The S&P/TSX Composite Index fell 0.4 percent to 14,870.63 at 4 p.m. in Toronto. Raw materials rebounded after snapping their longest winning streak in three months. Miners and energy producers have propelled the index to a 14 percent increase this year, making it the top performing developed equity market in the world, ahead of the U.K. and New Zealand.