CANADA STOCKS-Toronto stocks dive on sliding oil, metals

Wed Mar 28, 2012 4:46pm EDT
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* TSX dives 98.18 points, or 0.78 pct, at 12,413.86

* 8 of 10 main sectors lower

* U.S. durable goods data hurts miners

* Oil price skids on supply concerns

By Jennifer Kwan

TORONTO, March 28 (Reuters) - Canada's main stock index tumbled on Wednesday as mining shares were hurt by soft U.S. durable goods data that cast some doubt on the pace of economic recovery, while oil skidded on supply concerns.

A mix of resource names led the index lower, including Suncor Energy Inc, down 1.2 percent at C$32.48, and Cenovus Energy Inc, which fell 2.4 percent to C$35.40. Barrick Gold Corp skidded 1.4 percent to C$43.05, while Teck Resources Ltd tumbled 3.3 percent to C$34.56.

The key pillars of energy and materials, which comprise some 40 percent of the broader index, sank 1.5 percent and 1.8 percent, respectively.

Oil prices fell on Wednesday on a big rise in U.S. crude inventories and the possibility of a release of strategic oil reserves by the United States and some European nations.   Continued...