CANADA STOCKS-U.S. jobs data sends TSX to 2012 low

Fri May 4, 2012 5:09pm EDT
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* TSX ends down 143.67 pts, or 1.2 pct, at 11,871.23
    * Touches lowest level since Dec. 29 at 11,824.27
    * Energy and financial shares lead losses
    * Gold miners pare some losses

    By Jon Cook	
    TORONTO, May 4 (Reuters) - Canada's resource-heavy main
stock index tumbled to a 2012 low on Friday as energy and
financial shares sank after data showed  slower U.S. job
creation and a euro zone economy on the edge of another
    Markets were rattled by soft employment numbers from the
United States, as much-anticipated April nonfarm payrolls rose
115,000, well below the consensus forecast of 170,000.
    The third straight monthly decline in hiring growth spurred
concerns that the economy of Canada's biggest trading partner is
losing momentum.	
    "The catalyst for today's (drop) is the job numbers," said
John Kinsey, portfolio manager at Caldwell Securities Ltd. "That
kind of got the ball rolling and it's never recovered."	
    Nine of the 10 main sectors in Canada's stock market were
down, led by a 2.7 percent drop in the heavily weighted energy
group as U.S. crude slid below $100 a barrel for the first time
since February. 	
    "These oil stocks are just being trashed," said Kinsey.	
    Canadian energy stocks were down 4.1 percent for
the week and have fallen more than 7 percent this year.	
    Canadian Natural Resources was the biggest drag on
the sector, falling 3.7 percent to C$31.71. The oil and gas
producer reported a jump in first-quarter profit on Thursday,
but investors were unimpressed. 	
    Suncor Energy, Canada's largest oil producer, slid
3.6 percent to C$30.19 and Cenovus Energy dropped 5.2
percent to C$32.18.	
    Shares of Penn West Petroleum Ltd fell 3.3 percent
to C$15.64 after it reported an 80 percent fall in first-quarter
profit on decade-low natural gas prices.  	
    The Toronto Stock Exchange's S&P/TSX composite index
 finished down 143.67 points, or 1.2 percent, at
11,871.23. It touched 11,824.27, its lowest level since December
    The TSX was down 3 percent for the week, its biggest weekly
drop this year.	
    Financial shares were off 1.5 percent, led by Canada's
largest bank, Royal Bank of Canada, which fell 1.6
percent to C$54.96. 	
    "When the markets are sloppier it means capital markets
activity is sloppier, which affects some of the banks' earnings
more than others," said Paul Hand, managing director at RBC
Capital Markets.	
    Great West Lifeco Inc's shares plunged nearly 9
percent to C$22.19 a day after Canada's second-largest life
insurer reported weaker-than-expected first-quarter earnings and
its stock was downgraded by Bank of Montreal.
    After tumbling earlier in the week, gold mining firms helped
pare losses, rising 1.2 percent as bullion prices rebounded.	
    Barrick Gold ended up 0.4 percent at C$37.69,
Goldcorp was up 1.3 percent to C$36.43 and Yamana Gold
Inc climbed 2.8 percent to C$14.09. Eldorado Gold
 rose 1.5 percent to C$13.15 after the miner said its
first-quarter profit rose 29 percent on Friday.