3 Min Read
* TSX falls 64.87 points, or 0.56 pct, to 11,504.74
* Energy, financials, base metals fall
* Gold stocks rally more than 3 percent
* RIM sinks 5 percent (Updates to close)
By Claire Sibonney
TORONTO, June 7 (Reuters) - Toronto's main stock index ended lower in volatile trading on Monday as energy and financial shares tumbled on economic uncertainty and offset gains by surging gold issues.
"The overhang is the uncertainty in Europe," said Steve Ibel, institutional equities trader at Beacon Securities.
With ongoing fears about euro zone debt contagion causing investors to flee to safe-haven assets, gold rallied to less than $10 below its all-time high. [GOL/]
"Gold is having a kick-ass day, which kind of points to a bit more uncertainty," added Ibel.
Meanwhile, economically sensitive copper tumbled to eight-month lows, sending the base metals subsector down more than 4 percent.
Teck Resources TCKb.TO, Canada's biggest base metals producer, slumped almost 5 percent to C$31.14 while First Quantum Minerals (FM.TO) dropped almost 6 percent to C$51.41.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed 64.87 points, or 0.56 percent, lower at 11,504.74.
Also dragging on the index were shares of Research In Motion Ltd RIM.TO, which fell 5 percent to C$60.04 after an analyst said North American sales of the BlackBerry smartphone slid in May.
In a double-whammy to the stock, the report came out the same day that Apple Inc (AAPL.O) unveiled its latest iPhone, which is starting to make deep inroads into BlackBerry's once secure corporate market. [ID:nN07197833]
$1=$1.06 Canadian Reporting by Claire Sibonney; editing by Rob Wilson