TSX Drops Below 16,000 As Oil Slides -- Canadian Commentary

(RTTNews) - Canadian stocks fell sharply Tuesday, with Toronto's main index failing to hold the 16,000 mark.

In a steep drop from record highs, the TSX Composite Index was down 122.90 points, or 0.77%, to 15,903.66.

Energy stocks declined along with crude oil prices that fell from 2-year highs.

The International Energy Agency said that warmer weather around the world will hurt demand in the next few months.

WTI light sweet crude oil was down $1.05 at $55.71 a barrel.

Bombardier Commercial Aircraft (BBD_B.TO, BBD_A.TO) has signed a letter of intent with Cairo-based EgyptAir Holding Company for up to 24 CS300 aircraft.

This includes firm orders for twelve CS300 aircraft with purchase rights for an additional 12 aircraft. The deal could be worth $2.2 billion. Shares rose 1.2%.

Premium Brands Holdings(PBH.TO) said revenues rose sharply in the third quarter. However, earnings growth slowed from the first half. Shares dropped 6.6%.

Marijuana company Canopy Growth (WEED.TO) reported a quarter loss despite rising sales. Shares fell 2%

Cenovus Energy (CVE.TO) has reached a deal to sell its Weyburn oil facility for $940 million to Whitecap Resources (WCP.TO). Shares dropped 4.7%.