CANADA STOCKS-TSX slides to 10-day low on oil, gold

Fri Mar 2, 2012 4:56pm EST
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* TSX ends down 79.64 pts, or 0.6 pct, at 12,643.82

* Lowest close since Feb 21; down 0.6 pct on week

* Materials, energy issues weigh

* Gold has biggest weekly drop this year

* Spain deficit target stokes euro zone concern

By Jon Cook

TORONTO, March 2 (Reuters) - Canadian stocks hit a 10-day low on Friday as resource issues slumped on weaker oil and gold prices and as optimism over progress in Europe's debt crisis faded after Spain set a deficit target bigger than allowed by the euro zone's new fiscal pact.

Six of the TSX's 10 main sectors were lower, led by the heavyweight materials and energy groups, which both slid more than 1 percent.

"Oil is reversing course a little this week so that's driving a little bit of the weakness in the TSX," said Craig Fehr, Canadian market strategist at Edward Jones in St. Louis, Missouri.   Continued...