TSX Drops 100 Points, Energy Stocks Tumble -- Canadian Commentary

(RTTNews) - Canadian stocks fell sharply Monday, trimming gains from month-long uptrend as crude oil prices crumbled.

Four straight weekly gains drove Canada's main stock index to its highest levels in year, but weakness among resource producers prevented further gains.

The S&P/TSX Composite Index was down 102.56 points, or 0.70 percent, to 14,498.10.

Energy stocks plunged 3.5 percent, while gold stocks fell 3 percent.

Sept. WTI oil settled at $43.13/bbl, down $1.06, or 2.4 percent, the lowest since late April.

Capital Power (CPX.TO) reported a net income loss of $23 million, but the company raised its dividend almost 7 percent. Shares rose 2 percent.

Fiera Capital Corp. (FSZ.TO) has closed its JV Transaction with Aquila Infrastructure Management. The stock was down fractionally.

Canadian National Railway (CNR.TO) beat earnings expectations.