CANADA STOCKS-TSX drops on U.S. data, weaker gold prices
* TSX falls 55.61 points, or 0.38 percent, to 14,403.50 * Six of the 10 main index sectors decline * Gold-mining shares fall with bullion price By John Tilak TORONTO, April 3 (Reuters) - Canada's main stock index fell on Thursday, hit by sluggish U.S. economic data and weaker gold prices. Investors also digested news that the European Central Bank left interest rates unchanged, though it said it was willing to act if inflation stays too low for too long. Data released on Thursday showed a greater-than-expected rise in the number of Americans filing new claims for unemployment benefits last week. Investors are now awaiting the monthly U.S. nonfarm payrolls report on Friday, a key indicator of the health of the world's biggest economy. The Toronto stock market's benchmark index was down on Thursday after gaining in each of the previous four sessions. It is up about 5.6 percent this year. "The market is backing and filling today," said David Cockfield, managing director and portfolio manager at Northland Wealth Management. "The picture really hasn't changed. It's slow growth," he said about the economic data. "The market's attention is shifting from a macro level to individual corporate earnings." The Toronto Stock Exchange's S&P/TSX composite index was down 55.61 points, or 0.38 percent, at 14,403.50. Six of the 10 main sectors on the index were in the red. Industrials stocks shed 0.6 percent. Canadian National Railway Co fell 1.2 percent to C$61.60, and Canadian Pacific Railway Ltd was down 0.8 percent at C$167.41 points. Shares of gold-mining companies showed the sharpest decline, losing 1.4 percent after the price of bullion fell. Goldcorp Inc gave back 1.5 percent to C$27.21, and Barrick Gold Corp declined 1.4 percent to C$20.20. In corporate news, Goldcorp extended its takeover bid for Osisko Mining Corp. Osisko shares fell 1.1 percent to C$7.27. ($1=$1.10 Canadian) (Editing by Peter Galloway)
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