CANADA STOCKS-TSX slides to 2012 low as growth fears sting

Tue Apr 10, 2012 4:33pm EDT
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* TSX ends down 83.21 points, 0.7 pct, at 11,935.29
    * Hits lowest since Dec. 30, negative ground for 2012

    By Claire Sibonney	
    TORONTO, April 10 (Reuters) - Toronto's main stock index
tumbled to its lowest level in 2012 on Tuesday and turned
negative for the year on a resurgence of fears about slowing
global growth, pressuring investors to exit riskier assets. 	
    Among the most influential decliners, Suncor Energy 
fell 2.1 percent to C$29.68, Royal Bank of Canada lost
1.1 percent to C$55.95 and Bank of Nova Scotia slipped
1.2 percent to C$54.38.	
    Signs of a cooling U.S. recovery after Friday's release of
disappointing data on jobs creation in March and the euro zone's
festering debt crisis fueled a view of tepid global growth,
stoking safety bids for gold as well as U.S. and German
government debt. 	
    Meanwhile, data showed Chinese imports undershot
expectations, growing 5.3 percent on the year in March -
consistent with other data suggesting soggy domestic demand in
the first quarter of the year. 	
    "That's the perfect troika ... growth concerns in Europe,
the U.S. and China as well. The China fact has been lingering
for a while, it certainly has had an impact on commodity prices
here," said Elvis Picardo, strategist and vice-president of
research at Global Securities in Vancouver. 	
    "Investors are also taking their cue from what happened in
the last couple years. The month of May sparked significant
selloffs in both 2010 and 2011, so it does feel like investors
are trying to jump the gun."	
    The Toronto Stock Exchange's S&P/TSX composite index
 ended down 83.21 points, or 0.69 percent, at
11,935.29, bringing the index into negative territory, off 0.2
percent, year to date. Earlier, the TSX hit a trough of
11,868.97, its weakest level since Dec. 30.	
    Industrial issues also weighed, as shares of Canadian
National Railway and Canadian Pacific Railway 
fell 2.1 percent and 1.9 percent, respectively, after the latest
industry data indicated a slight North American rail traffic
decline on the back of weakness in coal and agricultural product