CANADA STOCKS-TSX slips as trade data pulls commodities lower
* TSX down 17.31 points, or 0.12 percent, at 14,281.77 * Six of 10 main index sectors decline * Prices of some commodities drop * RBC slips after court decision By John Tilak TORONTO, March 10 (Reuters) - Canada's main stock edged lower on Monday after softer-than-expected economic data from China weighed on commodity prices and natural resource shares. Figures released over the weekend showed an unexpected drop in Chinese exports in February, renewing concerns about a slowdown in the world's second-largest economy. The resource-sensitive Toronto market felt the impact of the weakness in China, a major importer of commodities, as prices of gold and oil were in the red. China "is a concern, but is it a new concern? I'd say no," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier. "The question is, how much is it going to slow down?" He added that profit-taking was also weighing on the TSX, which is up nearly 5 percent this year. "We've had a good run for a while," he said. The Toronto Stock Exchange's S&P/TSX composite index was down 17.31 points, or 0.12 percent, at 14,281.77. Six of the 10 main sectors on the index were lower. Gold-mining shares gave back 1 percent, with Barrick Gold Corp losing 1.4 percent to C$21.78 and Goldcorp Inc slipping 0.9 percent to C$29.69. Energy producers were hit by lower oil prices. Canadian Natural Resources Ltd dropped 1.4 percent to C$41.02. Financials, the index's most heavily weighted sector, added 0.3 percent. Bank of Nova Scotia gained 0.4 percent to C$63.87. Royal Bank of Canada was down 0.1 percent after a decision by a Delaware judge who said that the lender should be held liable to former shareholders of Rural/Metro Corp because it failed to disclose conflicts of interest that tainted the $438 million buyout of the ambulance operator.
© Thomson Reuters 2017 All rights reserved.