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TSX Plunges Another 265 Points, Goose Gets Cooked -- Canadian Commentary

Canadian stocks continued their brutal sell-off Thursday, following U.S. markets deep into the red.

Falling oil prices and concerns about trade relations with the U.S. have excerbated in recent weeks. In addition, traders have been spooked by talk of higher interest rates from central banks.

The TSX Composite Index was down 265.03 to 15,065, the lowest since September.

The energy sector continued to weigh. Crude oil futures slipped to their lowest in five weeks due to a stronger dollar and demand concerns.

WTI light sweet crude oil was down 64 cents, or 1%, to settle at $61.15/bbl.

Suncor Energy Inc. (SU.TO, SU) reported that its fourth-quarter o,perating earnings were C$1.310 billion or C$0.79 per share compared to C$636 million or C$0.38 per share in the prior year quarter.

The oil company also raised its dividend 12%. The stock was down 2.3 percent.

BCE (BCE.TO) said it added 175,000 postpaid wireless customers on a net basis in the fourth quarter, up sharply from last year. Shares slipped 0.8 percent.

TELUS Corporation (T.TO) said its bottom line came in at C$328 million, or C$0.55 per share. This was up from C$316 million, or C$0.53 per share, in last year's fourth quarter. The stock was down fractionally.

Thomson Reuters Corporation (TRI.TO) said earnings climbed to $428 million, or $0.60 per share. This was up from $228 million, or $0.31 per share, in last year's fourth quarter.

Canada Goose (GOOS) beat profit estimates but shares plunged 16 percent.

by RTTNews Staff Writer

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