CANADA STOCKS-TSX drops as gold miners lead broad selloff
* TSX falls 42.65 points, or 0.32 percent, to 13,429.56 * All of the 10 main index sectors decline * Gold miners drop 1.8 percent * Couche-Tard jumps after reporting results By John Tilak TORONTO, Nov 26 (Reuters) - Canada's main stock index fell for a second straight session on Tuesday, with every major sector trading in the red as the market reacted to political tension in the East China Sea and as weaker bullion prices hit gold-mining shares. Uncertainty about the future of the U.S. Federal Reserve's monetary stimulus plans and sluggish physical demand were a drag on the price of gold. Data that showed that permits for U.S. home construction hit a near 5-1/2 year high in October and that prices for single-family homes in the United States soared in September failed to inject much enthusiasm into the market. Investors, however, paid attention to comments from the White House that China's requirement that airlines inform Beijing when they are entering airspace over disputed islands in the East China Sea is "unnecessarily inflammatory". "The market is in a wait-and-see mode," said Shailesh Kshatriya, associate director for client investment strategies at Russell Investments Canada. Investors want more clarity from economic data and central bank moves before becoming more bullish on the Canadian market, he added. The Toronto Stock Exchange's S&P/TSX composite index was down 42.65 points, or 0.32 percent, at 13,429.56. "We are mildly positive on North American equities for next year," Kshatriya said. "We'd like to see some of the volatility (in commodity prices) subside," he said. "That will definitely get us to be more constructive towards the Canadian equity market." All of the 10 main sectors on the index were in the red on Tuesday. Shares of financial companies fell 0.2 percent, with Bank of Nova Scotia dropping 0.5 percent to C$66.15 and Toronto-Dominion Bank slipping 0.3 percent to C$97.60. Gold producers gave back 1.8 percent. Goldcorp Inc shed almost 2 percent to C$23.73, and Barrick Gold Corp lost 1 percent to C$17.11. The index's gold-mining sector has lost close to half its value this year. In company news, Rogers Communications Inc said it signed a landmark C$5.2 billion ($4.9 billion) deal to broadcast National Hockey League games in Canada for the next 12 years. The stock, down 0.9 percent at C$46.34, fell with the broader market. Alimentation Couche-Tard jumped 1.6 percent to C$75.13 after the convenience store chain reported a 27 percent rise in quarterly profit, driven by higher gasoline margins and acquisitions.
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