CANADA STOCKS-TSX slips as miners, energy weakness weighs

Tue Nov 27, 2012 11:16am EST
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* TSX down 33.67 points, or 0.28 percent, at 12,151.49

* Bombardier jumps 8 pct after inking plane deal worth $7.8 bln

By Alastair Sharp

TORONTO, Nov 27 (Reuters) - Canadian stocks moved lower on Tuesday, weighed down by a drop in gold mining and energy shares, as bullion and oil dipped and investors brushed off a Greek debt deal to focus on a looming U.S. fiscal crisis.

Bombardier Inc jumped 8.3 percent to C$3.38 after the planemaker signed a $7.8 billion deal to supply business jets to a private Swiss charter operator.

BlackBerry maker Research In Motion Ltd slid 6.9 percent to C$11.07 after rising sharply since mid-month on optimism over its upcoming new devices.

Meanwhile, resource stocks that play a major role in the overall direction of the index were broadly lower, with the biggest drag coming from Goldcorp Inc, which slipped 1.5 percent to C$40.18.

"People generally feel that gold is going higher, but the stocks suffer on an ongoing basis because ... it's so easy to buy the commodity," said Paul Harris, a portfolio manager at Avenue Investment Management, which manages $280 million.

Gold eased after U.S. consumer confidence rose to a four-and-a-half-year high in November and a Fed policymaker expressed concern about easing measures. Oil edged lower as global growth concerns offset an agreement over Greek debt.   Continued...