(Adds portfolio manager comments, updates prices)
* TSX ended down 96.93 points, or 0.79 percent, at 12,185.72
* Five of the TSX's 10 main groups were lower
By Fergal Smith
TORONTO, Feb 10 (Reuters) - Canada's main stock index fell
on Wednesday, hitting a two-week low as a drop in oil prices and
credit market uncertainty weighed on energy and financial
stocks.
The market closed lower for a fourth straight day despite
reassurance from Federal Reserve Chair Janet Yellen about the
U.S. economy's ability to absorb a gradual rise in interest
rates.
The weak oil price "continues to put pressure on the index,"
said Youssef Zohny, a portfolio manager at StennerZohny
Investment Partners.
U.S. crude prices CLc1 fell 2 percent after stockpiles at
the main U.S. delivery point hit record highs. O/R
Canadian Natural Resources Ltd CNQ.TO fell 2.7 percent to
C$27.36, while Cenovus Energy Inc CVE.TO was down 8.4 percent
at C$13.52. The overall energy group fell 2.7 percent.
Financial stocks fell 1.4 percent after reversing earlier
gains. It included a 2.1 percent drop in the shares of Royal
Bank of Canada RY.TO to C$66.19.
Bank stocks are likely to remain under pressure ahead of
earnings as investors worry about uncertainties surrounding
energy and credit markets, according to Zohny.
Algonquin Power & Utilities Corp AQN.TO fell 7.8 percent
to C$10.64 after announcing on Tuesday a C$3.4 billion
acquisition.
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE closed down 96.93 points, or 0.79 percent, at
12,185.72, its lowest close since Jan. 25.
Five of the index's 10 main groups were lower.
Information technology was among sectors that advanced,
rising 1.6 percent. It was led by a 10 percent jump in shares of
Open Text Corp OTC.TO to C$65.51.
The materials group, which includes precious and base metal
miners and fertilizer companies, rose 0.2 percent.
Goldcorp Inc G.TO rose 3.5 percent to C$20.31, while
Barrick Gold was also up 3.5 percent at C$16.11. GOL/