Canada Stocks Halt Rally as Oil Slumps on Saudi Skepticism
- Saudi Arabia doesn’t expect supply decision at Algiers talks
- Financials slide with inflation slowest in 2 years in August
TSX Movers: Teck, New Flyer, Paramount Resources
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Canadian stocks halted a four-day rally as energy producers tumbled with crude, while inflation data that boosted the likelihood of added stimulus sent financial shares lower and an unexpected drop in retail sales weighed on consumer shares.
The S&P/TSX Composite Index fell 0.7 percent to 14,697.93 at 4 p.m. in Toronto, paring the best weekly advance since April to 1.7 percent. The benchmark for Canadian equity has surged 4.5 percent in the third quarter, pushing its gain this year to 13 percent.