CANADA STOCKS-TSX edges lower, gold selloff main drag

Fri Jul 2, 2010 11:11am EDT
 
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* TSX down 0.1 percent at 11,283.24

* Gold stocks dive after Thursday's bullion selloff

* U.S. payrolls fall for the first time this year (Adds details)

By Ka Yan Ng

TORONTO, July 2 (Reuters) - Toronto's main stock market index was lower on Friday morning, offering a mixed reaction to report that showed U.S. employment fell in June, the first monthly drop this year, but tugged lower by diving gold-mining shares.

At 10:40 a.m. (1440 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 11.18 points, or 0.1 percent, at 11,283.24, starting the second half of the year on a soft note after losing about 6 percent in the past two weeks.

Seven of the index's 10 sectors were higher, but the big materials group was down 2.1 percent, playing catch-up after commodity prices, especially bullion, were hit hard on Thursday.

Canadian financial markets were shut on Thursday for Canada Day.

"It's been quite unidirectional in the last two weeks. Perhaps the market is taking a bit of a breather," said Francis Campeau, broker at MF Global Canada in Montreal.   Continued...