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TSX ends down 0.2% at 20,630.69
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Energy falls 1.3%; oil settles 2.4% lower
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Technology loses 0.8%
(Adds details on activity, updates prices to close)
By Shristi Achar A and Fergal Smith
April 20 (Reuters) - Canada's main stock market index
fell on Thursday as lower oil prices weighed on energy shares,
with the market pulling back from a two-month high it touched
earlier this week.
The Toronto Stock Exchange's S&P/TSX composite index ended down 50.14 points, or 0.2%, at 20,630.69. It
also ended lower Wednesday after posting on Tuesday its highest
closing level since Feb. 15 at 20,684.68.
"We're seeing a continued decline in the economy, especially
in the U.S., which obviously affects us here in Canada," said
Allan Small, senior investment advisor at Allan Small Financial
Group with iA Private Wealth.
"The slowing economy is really weighing on commodities and
is offsetting any gains we would have seen in oil based on
production cuts."
The energy sector dropped 1.3% as oil settled 2.4%
lower at $77.29 a barrel, pressured by fears that a possible
recession could dent fuel demand and after a rise in U.S.
gasoline inventories.
Technology was also a drag, falling 0.8%. (Reporting by Shristi Achar A in Bengaluru; Editing by Shilpi Majumdar and Deepa Babington)
