TSX Pulls Back Despite Oil Rally -- Canadian Commentary

(RTTNews) - Canadian stocks turned in a lackluster performance Tuesday, as surging oil prices failed to give the energy sector much of a boost.

Bay Street has been in a cautious mood for the past week after recently touching yearly highs.

The S&P/TSX Composite Index was down 51.93 points, or 0.35 percent, to 14,725.09.

The Canadian dollar strengthened to its highest since June, approaching 78 cents versus the U.S. dollar.

The Wall Street Journal reports that Alimentation Couche-Tard (ATD.B.TO) "is the likely winner" in the auctioning off of U.S. chain CST Brands. Couche-Tard rose 3 percent.

Warren Buffett's Berkshire Hathaway has dumped about 26 percent of its stake in Canada's Suncor (SU.TO). Suncor was down 0.3 percent.

Avigilon Corp (AVO.TO) slumped 25 percent after ratings agency downgrades.