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    Canada Stocks: Toronto market hits two-week low amid credit risk worries

    Picture of TFI International logoTFI International
    26/04/2023 22:10
    * 
      TSX ends down 0.4% at 20,366.72
    

        * 
      Energy falls 1.7%; oil settles 3.6% lower
    

        * 
      Cenovus Energy falls 3.7%
    

        * 
      Teck resources gains on restructuring plan withdrawal
    

  
 (Adds investor quotes and details throughout)
    By Fergal Smith
       April 26 (Reuters) - Canada's main stock index fell to
its lowest closing level in two weeks on Wednesday as oil prices
dropped and investors worried that a slowdown in economic growth
could expose lenders to increased risk of default on their
loans.
    The Toronto Stock Exchange's S&P/TSX composite index
 .GSPTSE  ended down 73.15 points, or 0.4%, at 20,366.72, its
lowest closing level since April 10.
    U.S. benchmarks the S&P 500 and the Dow also ended lower
amid lingering concerns about a weakening U.S. economy and the
banking sector.
    There's good reason to remain cautious, said Joseph
Abramson, co-chief investment officer at Northland Wealth
Management.
    "Risk remains to the downside over the next three to six
months because credit risk should jump as growth slows,"
Abramson said.
    The energy sector, which accounts for 19% of the TSX's
weighting, fell 1.7% as oil settled 3.6% lower at $74.30 a
barrel.
    Adding to pressure on energy was a decline of 3.7% for the
shares of Cenovus Energy Inc 
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