CANADA STOCKS-TSX retreats on anxiety about possible correction
* TSX down 128.15 points, or 0.84 percent, at 15,044.78 * All of the 10 main index sectors decline * Intertape jumps after dividend increase By John Tilak TORONTO, July 8 (Reuters) - Canada's main stock index declined on Tuesday, hit by weakness in every major sector as investors grew nervous that the solid gains of recent months could spur a market correction. Telecoms shares remained in selloff mode, a day after the government announced a new spectrum auction that favors smaller industry players, and were one of the biggest drags on the market. While the Toronto equity market eased for a second straight session, its benchmark index is still up about 10 percent since the start of the year. "Investors are fairly complacent," said Gavin Graham, chief strategy officer at Integris Pension Management Corp. "If we get anything at all that causes people to become a bit more nervous, then that could be a nasty blow." "We haven't had a big correction in a while," he added. "We're about due." The Toronto Stock Exchange's S&P/TSX composite index was down 128.15 points, or 0.84 percent, at 15,044.78. All of the 10 main sectors on the index were in the red. Financials, the index's most heavily weighted sector, gave back 0.6 percent. Royal Bank of Canada lost 0.5 percent to C$77.17, and Bank of Nova Scotia fell 0.8 percent to C$71.70. Shares of energy producers slipped 1 percent, with oil prices trading lower. Suncor Energy Inc shed 0.8 percent to C$45.09, and Canadian Natural Resources Ltd fell 0.8 percent to C$48.70. Shares of telecoms providers tumbled 1.5 percent, with Telus Corp weakening 2.4 percent to C$39.36 and Rogers Communications Inc declining 2 percent to C$41.50. In corporate news, Intertape Polymer Group Inc said late on Monday it raised its dividend by 50 percent. The stock shot up 9.6 percent, to C$13.40. ($1=$1.07 Canadian) (Editing by Peter Galloway)
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