Canada’s benchmark stock index finished lower on Monday as energy stocks fell with tumbling oil prices, and financial, telecom and industrial stocks also weighed on the market.

The Toronto Stock Exchange’s S&P/TSX composite index ended down 107.10 points, or 0.69 percent, at 15,388.95. Two stocks declined for every gainer.

The most influential movers on the index included some of its biggest oil and gas producers, with the energy group down 2.5 percent overall as oil prices fell on fears that record Iraqi crude exports and growing U.S. output could undermine OPEC’s efforts to reduce supply.

Canadian Natural Resources Ltd fell 3.1 percent to C$41.82, and Suncor Energy Inc lost 1.4 percent to C$43.49.

Seven Generations Energy slumped 9.1 percent to C$27.06 after reporting lower-than-expected production in the fourth quarter.

“A lot of momentum was in that name. … It was really being pushed in the broker channels. It probably ran a little bit ahead of itself,” said Bryden Teich, a portfolio manager at Avenue Investment Management.

The financials group, which accounts for 35 percent of the index weight, lost 0.5 percent, with Brookfield Asset Management Inc off 1.3 percent at C$43.56 and insurer Sun Life Financial Inc down 1.5 percent at C$51.46.

Industrials and telecoms both lost 0.8 percent.

On the positive side, Quebecor Inc rose 2 percent to C$38.12 and Shaw Communications Inc added 1.9 percent to C$22.77 after RBC upgraded its view of the two cable companies’ stock.

RBC also raised its view on exchange operator TMX Group Ltd , while downgrading telecom companies Rogers Communications Inc and BCE Inc as well as mortgage lender Home Capital Group Inc.

TMX advanced 3.5 percent to C$75.60, Rogers declined 1.5 percent to C$51.40, BCE lost 1.1 percent to C$57.94, and Home Capital shed 2.4 percent to C$30.54.

Canadian companies are more optimistic about sales as demand picks up and they plan to boost investment and hiring, but businesses are uncertain about U.S. protectionism, and the labor market shows signs of substantial slack, the Bank of Canada said on Monday.

Teck Resources Limited (TECK) ended last trading session with a change of 7.84 percent. It trades at an average volume of 6.81M shares versus 6.5M shares recorded at the end of last trading session. The share price of $22.41 is at a distance of 779.85 percent from its 52-week low and down -15.61 percent versus its peak. The company has a market cap of $12.92B and currently has 576.4M shares outstanding. The share price is currently 6.39 percent versus its SMA20, -0.17 percent versus its SMA50, and 41.26 percent versus its SMA200. The stock has a weekly performance of 11.05 percent and is 11.88 percent year-to-date as of the recent close.

Potash Corporation of Saskatchewan Inc. (POT) recently recorded 0.43 percent change and currently at $18.6 is 31.92 percent away from its 52-week low and down -6.44 percent versus its peak. It has a past 5-day performance of 2.65 percent and trades at an average volume of 6.41M shares. The stock has a 1-month performance of -3.53 percent and is 2.82 percent year-to-date as of the recent close. There were about 854.21M shares outstanding which made its market cap $15.89B. The share price is currently 0.95 percent versus its SMA20, 4.2 percent versus its SMA50, and 11.16 percent versus its SMA200.