CANADA STOCKS-TSX hits 4-month low as golds sell off

Fri Jul 2, 2010 5:19pm EDT
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* TSX falls 0.87 percent to 11,196.06

* Down 4.4 pct for the week

* 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 hit its lowest level in more than four months on Friday as resource issues, particularly gold miners, stumbled heavily.

Gold shares were reeling after bullion prices were hit hard on Thursday, when Canadian markets were closed. The index's materials sector, which includes golds, was down more than 3 percent.

Gold-mining issues were the main drag on the index even though bullion prices rebounded a bit on Friday. Thursday's fall was triggered by heavy selling by funds trying to cover losses in other markets.

Barrick Gold (ABX.TO: Quote) was off 4.9 percent at C$45.95, while Goldcorp (G.TO: Quote) was off 5.7 percent at C$43.95.   Continued...