CANADA STOCKS-TSX slips for 3rd day as Europe fears flare up

Thu Apr 5, 2012 10:25am EDT
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* TSX down 33.99 points, or 0.3 pct, to 12,144.67
    * Energy, bank shares lead decliners

    By Claire Sibonney	
    TORONTO, April 5 (Reuters) - Toronto's main stock index
retreated for the third straight day on Thursday, tracking
global markets as European debt crisis worries crimped appetite
for riskier assets, though strong Canadian and U.S. jobs data
provided some support.	
    Nine of the 10 sectors were weaker, led by financials and
energy shares, though materials rebounded moderately on the back
of recovering base-metal miners.	
    Among the most influential decliners, Suncor Energy 
fell 0.8 percent to C$31.00, Toronto-Dominion Bank lost
0.9 percent to C$82.93 and Bank of Nova Scotia slipped
0.8 percent to C$55.12. 	
    "Everybody is back on this European sovereign debt thing
again and it's just something that doesn't want to go away,
that's hurting the banks and everything is getting beaten up
today," said John Kinsey, portfolio manager at Caldwell
    A poor Spanish debt auction on Wednesday added to worries
that the impact of the European Central Bank's one trillion euro
injection of cheap three-year funds into the banking system may
be coming to an abrupt halt, and euro zone bond yields continued
to climb.	
    At 10:13 a.m. (1413 GMT), the Toronto Stock Exchange's
S&P/TSX composite index was down 33.99 points, or 0.28
percent, at 12,144.67.	
    Suncor, the heaviest drag, was particularly hurt by news
that the province of Newfoundland's oil regulator laid three
charges against the oil company, related to a spill of synthetic
drilling fluids in 2011 from a Suncor rig operating in the East
Coast province's waters. 	
    In general however, oil companies were pressured by softer
oil prices, which have fallen by $3 a barrel over the last two
    "The oil companies have just been taking a hard hit here for
some time. The price of oil is still above $100 but  today is
just more of the same," added Kinsey.	
    On the bright side, Canada's stagnant job market bounced
back in March with a stunning 82,300 net new jobs, the biggest
jump since September 2008, while U.S. jobless claims fell to the
lowest level in nearly four years.