CANADA STOCKS-TSX falls for third straight session as oil prices tumble

By Avinash P Dec 16 (Reuters) - Canada’s main stock index dipped for the third successive session on Tuesday, as heavyweight energy stocks followed oil prices lower. The S&P/TSX Composite index (.GSPTSE) fell 0.4% to 31,351.47 points as of 10:31 a.m. ET, and was set for its lowest close in a week. Canada’s energy sector (.SPTTEN) tumbled 3% as oil prices (LCOc1) (CLc1) sank below $60 after prospects of a Russia-Ukraine peace deal appeared to strengthen. (O/R) Meanwhile, shares of cannabis firms Canopy Growth (WEED.TO) , Trulieve Cannabis (TRUL.CD) and Curaleaf Holdings (CURA.TO) rose 4.8% to 9.3%, extending their recent gains, after U.S. President Donald Trump said on Monday he is considering an executive order to reclassify marijuana as a less dangerous drug. U.S. stocks were lower on Tuesday after data showed jobs growth rebounded in November, but the unemployment rate stood at 4.6%. Canada’s retail sales data for October is due later this week. The Bank of Canada held its key policy rate steady last week as widely expected, and Governor Tiff Macklem said the economy was proving resilient overall to the effect of U.S. trade measures. Macklem is set to speak later in the day. “It’s just going to be a data-driven market for a little while,” said Ian Chong, portfolio manager at First Avenue Investment Counsel Inc. After a strong year, doubts about valuation could prompt investors book profits, he said. Easing interest rates and upbeat commodity prices have put Canadian stocks on track for their best annual showing since 2009. In other share moves, bus and coach manufacturer NFI Group’s (NFI.TO) shares soared 17% after announcing a battery recall agreement that provided 75% to 80% recovery against a $229 million provision. Services firm WSP Global (WSP.TO) said it would acquire U.S. power and energy firm TRC Companies in a $3.3 billion all-cash deal; shares were up 1%.