(Adds portfolio manager quote, details; updates prices)
* TSX down 132.34 points, or 1.01 percent, to 13,009.95
* Nine of the TSX's 10 main groups were lower
By Fergal Smith
TORONTO, Dec 31 (Reuters) - Canada's main stock index fell
on Thursday despite a rally in crude oil prices, leaving the
market down 11 percent in 2015 and closing out its worst year
since the global financial crisis of 2008.
The strong correlation between equity markets and oil prices
reversed for one day, according to Ian Nakamoto, director of
research at MacDougall, MacDougall & MacTier.
The heavily weighed financial services sector was the
biggest drag on the market in light volume ahead of the New
Year's Day holiday, falling 1.7 percent.
Royal Bank of Canada RY.TO fell 1.9 percent to C$74.15,
while Toronto-Dominion Bank TD.TO was down 1.4 percent at
C$54.24.
Industrials also fell, including a 1.3 percent drop in
Canadian National Railway Co CNR.TO to C$77.35.
BlackBerry Ltd BB.TO fell 1.0 percent to C$12.84. The
company said it has decided to continue its operations in
Pakistan as the government dropped a request for access to
users' data.
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE closed down 132.34 points, or 1.01 percent, to
13,009.95, with nine of the index's 10 main groups in negative
territory.
Lower prices for crude oil and other commodities weighed on
the resource-linked market in 2015, triggering a 27 percent
slump in energy stocks and a 23 percent slide in the materials
group.
"We are still going to be dependent on energy prices," said
Nakamoto. However, he looks for recovery in energy prices to
support "a gradual rise in the index over time."
The materials group fell 0.6 percent on Thursday, including
a 2.2 percent drop in Potash Corporation of Saskatchewan Inc
POT.TO to C$23.70.
Energy stocks rose 0.6 percent, helped by the rally in crude
oil prices.
Encana Corporation ECA.TO advanced 4.8 percent to C$7.03,
while Enbridge Inc ENB.TO was up 0.9 percent at C$46.00.
U.S. crude CLc1 prices settled at $37.04 a barrel, up 1.2
percent. O/R
Bombardier Inc BBDb.TO rose 3.1 percent to C$1.34. The
planemaker said it received a firm order from China Express
Airlines for 10 CRJ900 jets for about $462.6 million based on
the list price of the aircraft.