Canada's main stock market closes lower over concern about falling oil prices

Toronto Stock Exchange, Canada's main stock market, ended lower as the gains in the metals and mining sector were overpowered by the losses in energy shares triggered by concerns about weakening oil prices.

Toronto Stock Exchange's S&P/TSX composite index was down 4.06 points, or 0.03 percent, to close at 14,308.44 points. Six of the eight major sectors were in the red.

Industrials sector was up 0.48 percent as Canadian National Railway Company rallied 0.66 percent to 80.97 Canadian dollars ( about 66.88 U.S. dollars) and Canadian National Railway Company climbed 2.24 percent 220.65 Canadian dollars.

Metals and Mining sector, another gainer Tuesday, jumped 2.16 percent, when Teck Resources Ltd. shares rose 1.60 percent to 14. 64 Canadian dollars apiece, and First Quantum Minerals Ltd. added 2.46 percent 13.73 Canadian dollars a share.

Gold sector surged when Goldcorp Inc. moved up 2.48 percent to 29.38 Canadian dollars a share, after the most active gold contract for February delivery was up 17.3 U.S. dollars to 1,294.2 dollars on the COMEX division of the New York Mercantile Exchange.

However, energy sector fell 2.40 percent, due to the continuous decline in oil prices, with light, sweet crude for February delivery tumbling 2.3 U.S. dollars to settle at 46.39 dollars a barrel on the New York Mercantile Exchange, after the International Monetary Fund (IMF) lowered its global economic growth forecast to 3.5 percent and 3.7 percent for 2015 and 2016, respectively Tuesday.

Suncor Energy Inc. gave back 1.74 percent to 34.93 Canadian dollars, while Canadian Natural Resources Ltd. retreated 0.67 percent to 34.18 Canadian dollars.

And Financials sector fell 0.33 percent, when Royal Bank of Canada shed 0.51 percent to 75.41 Canadian dollars and Toronto- Dominion Bank moved down 0.22 percent to 50.43 Canadian dollars.

In other sectors, Healthcare was down 0.46 percent as Extendicare Inc. plunged 1.66 percent to 6.52 Canadian dollars and Catamaran Corp. fell 0.37 percent to 61.12 Canadian dollars.

Info-tech, Telecom sector dropped by 0.35 percent and 0.48 percent, respectively.

Statistics Canada reported Tuesday morning that manufacturing sales declined 1.4 percent to 51.5 billion Canadian dollars in November, reflecting lower sales of motor vehicles, chemicals, primary metals and food.

On the currency front, the Canadian dollar closed down to 0. 8260 U.S. dollar Tuesday, compared with 0.8370 U.S. dollar in Monday's trading. Endite