CANADA STOCKS-TSX tumbles from 14-month high to end lower

Thu Dec 3, 2009 4:52pm EST
 
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* TSX falls 143.18 points to 11,636.55

* Earlier touched highest level since Sept. 2008

* Gold and oil issues headline retreat (Adds details, comments and official numbers)

By Frank Pingue

TORONTO, Dec 3 (Reuters) - Toronto's main stock index fell on Thursday, snapping a two-session advance, as a decline in commodity prices erased an earlier rally that had lifted the resource-heavy index to its highest level in over 14 months.

Shares of EnCana Corp ECA.TO, which headlined the decline, ended down 4.4 percent at C$28.81. The slide came a day after EnCana completed its split into separate gas and oil businesses. [ID:nN30251304]

Talisman Energy TLM.TO shares fell 2.7 percent to C$18.42, while Nexen Inc NXY.TO dropped 1.9 percent to C$25.26. The drag in energy shares came as the price of oil slipped on weak U.S. service sector data and rising U.S. crude inventories. [O/R]

Also contributing to the broader decline was a slide by gold miners, which fell as the price gold backed away from a record high [ID:nGEE5B20XL].

Shares of Barrick Gold Corp ABX.TO slid 2 percent to C$49.42, while Goldcorp G.TO fell 1.5 percent to C$47.48.   Continued...