(Adds details on specific stocks, updates prices)
* TSX down 91 points, or 0.58 percent, to 15,561.08
* Seven of the TSX's 10 main groups move lower
TORONTO, May 9 Canada's main stock index fell on
Tuesday as energy stocks weighed with lower oil prices and as
software company Open Text Corp lost ground after its
quarterly profit missed expectations.
Those losses offset a sharp gain for Valeant Pharmaceuticals
International Inc, up 12.9 percent to C$15.08, after
reporting its first quarterly profit in six quarters and raising
its earnings outlook.
Home Capital Group also spiked, up 18.6 percent to
C$8.10 after the alternative lender announced a plan to sell up
to C$1.5 billion of its mortgage book.
At 10:30 a.m. ET (1430 GMT), the Toronto Stock Exchange's
S&P/TSX composite index was down 91 points, or 0.58
percent, to 15,561.08.
Seven of the index's 10 main groups were in negative
territory, with the heavyweight energy group retreating 1.2
percent as oil prices buckled on concern about slowing demand
and rising U.S. output.
Canadian Natural Resources Ltd fell 1.9 percent to
C$42.23 and Suncor Energy Inc declined 0.9 percent to
C$42.85. Pipeline companies also fell, with Enbridge Inc
down 0.7 percent to C$56.57 and TransCanada Corp
off 0.5 percent to C$64.19.
The materials group, which includes precious and base metals
miners and fertilizer companies, lost 0.7 percent.
Open Text fell 6.5 percent to C$44.55 after the business
software maker reported a lower-than-expected quarterly profit
after the bell on Monday as it works to integrate Dell-EMC's
enterprise content division, a purchase it completed in January.
The financials group fell 0.9 percent, with the country's
largest lender, Royal Bank of Canada, down 1.2 percent
at C$93.10. Toronto-Dominion Bank fell 0.9 percent to
Air Canada hit its highest level so far this year,
adding to gains since it reported a smaller-than-expected loss
on Friday. It was last up 2.2 percent at C$14.40.
The value of Canadian building permits unexpectedly declined
in March for the second month in a row as there were fewer plans
to build apartments in the provinces of Ontario and British
Columbia, data from Statistics Canada showed on Tuesday.
(Reporting by Alastair Sharp; Editing by Alistair Bell)