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TSX ends down 0.68% at 22,116.69

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Energy falls 4.42%; oil settles 3.60% lower

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Utilities add 0.50%

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GFL Environmental ( GFL ) jumps 10.42%

(Updates at market close)

By Fergal Smith

June 3 (Reuters) - Canada's main stock index fell on

Monday as a drop in oil prices weighed on energy stocks, with

the move in energy offsetting gains for high-dividend paying

utilities stocks ahead of a potential Bank of Canada interest

rate cut this week.

The Toronto Stock Exchange's S&P/TSX composite index

ended down 152.43 points, or 0.68%, at 22,116.69.

"The primary driver is the big sell-off in crude oil which

is dragging on the energy sector pretty much across the board,"

said Colin Cieszynski, chief market strategist at SIA Wealth

Management.

The price of oil settled 3.60% lower at $74.22 a

barrel as investors worried about the demand outlook and took a

complicated OPEC+ output decision as a sign that members of the

producer group were eager to export more crude.

The energy sector, which accounts for 20% of the

Toronto market's weighting, lost 4.42% and industrials ended

0.84% lower.

Financials also lost ground, falling 0.3%.

A former TD Bank employee falsified documents to

open dozens of accounts and provided concierge-like services to

help cash flow across borders, Bloomberg News reported. TD's

shares ended 1.02% lower.

"Utilities are up probably because Treasury yields are down

today and also there's the Bank of Canada in two days and at

least some people out there are thinking they might cut rates,"

Cieszynski said.

The utilities sector added 0.50% and real estate, which

could also particularly benefit from lower interest rates, ended

0.70% higher.

The BoC will trim interest rates to 4.75% on Wednesday,

according to three-quarters of economists in a Reuters poll

which showed three further cuts this year.

GFL Environmental Inc ( GFL ) was a standout. Its shares

climbed 10.42% to the highest closing level since April 10.