TSX Flat As Energy Stocks Tumble -- Canadian Commentary

(RTTNews) - Canadian stocks were flat Monday, with energy and health care companies weighing on Toronto's main index.

The S&P/TSX Composite Index was up 2.11 points to 14,787.40, unable to to take back much of last week's losses.

Suncor Energy (SU.TO) lost 2.5 percent. The company announced that it has reached an agreement to sell its Petro-Canada Lubricants Inc. or PCLI business to a subsidiary of HollyFrontier Corp. for $1.125 billion.

Centamin (CEE.TO) was up 1.1 percent. The company announced that its third quarter gold production was 148,674 ounces in the third quarter, an increase of 6 percent from the second quarter.

Bombardier (BBD-B.TO) lost 4.3 percent. Bombardier Commercial Aircraft unit said its CS300 jetliner, the second CS300 flight test vehicle, has arrived in Zhuhai, China.

Crude oil prices tumbled Monday even as a top OPEC official insisted the cartel will follow through with supply cuts.

"Come Nov. 30, we are optimistic that we are going to get the required supply cut that will go a long way in re-balancing this market," OPEC Secretary-General Mohammed Barkindo said to Bloomberg TV.

December WTI was down $1.84 at $46.86/barrel.

On the economic front, Statistics Canada reported its industrial product price index increased 0.4 percent in September. Economists had expected an increase of 0.2 percent.