Canadian stock market slides amid lower oil prices, China data

Canada's main stock market ended lower Friday following Thursday's slight bounce, as oil prices extended the losing tune and the slow-down in China's investment growth triggered investors' concern.
Toronto Stock Exchange's benchmark S&P/TSX Composite Index shed 173.22 points, or 1.25 percent, to 13,731.90 points, with six of the eight major sectors lower more than one percent.
Oil price continued to retreat below the level of 60 U.S. dollars per barrel after the International Energy Agency lowered its global demand outlook. Light, sweet crude for January delivery moved down 2.14 U.S. dollars to settle at 57.81 dollars a barrel on the New York Mercantile Exchange.
The index was also weighed by weak Chinese data. According to China's official data, the industrial output of the world's second largest economy grew 7.2 percent year on year in November, compared with the 7.7-percent increase in October.
TSX energy sector was hammered down 1.10 percent, when Suncor Energy Inc. lost 1.32 percent to 32.13 Canadian dollars (about 27. 77 U.S. dollars), and Canadian Natural Resources Ltd. declined 3. 12 percent to 33.17 Canadian dollars per share.
By contrast, Talisman Energy Inc. bucked the trend by surging 18.31 percent to 5.04 Canadian dollars because it was reported that the Calgary-based oil and gas explorer was close to receive a takeover offer up to 8 billion U.S. dollars from the Spain oil and gas company Repsol.
In other sectors, the metals & mining plunged 2.99 percent as First Quantum Minerals Ltd. dropped 3.01 percent to 16.42 Canadian dollars, whereas Teck Resources Ltd. dived 6.01 percent to 12.82 Canadian dollars.
Financials decreased 1.36 percent. Royal Bank of Canada plummeted 1.38 percent to 77.41 Canadian dollars and Toronto Dominion Bank gave back 1.12 percent to 51.91 Canadian dollars.
The only gainer among the eight TSX major sectors on Friday was the healthcare sector, which advanced 0.11 percent, when the drug maker Valeant Pharmaceuticals International, Inc. added 0.29 percent to 160.64 Canadian dollars and Extendicare Inc. increased 2.39 percent to 6.42 Canadian dollars.
On the currency front, the Canadian dollar closed at 0.8642 U.S. dollar Friday from 0.8675 U.S. dollar on Thursday.