CANADA STOCKS-TSX slides as golds lead broad decline
* TSX closes down 98.67 points, 0.74 percent, at 13,152.00
* Nine of the index's 10 main groups lower
* Gold prices fall 1 percent (Updates to close, adds details, analyst's comments)
By Solarina Ho
TORONTO, Dec 8 (Reuters) - Toronto's main stock index languished in negative territory on Wednesday as sinking gold prices led to a broad retreat.
All but one of the TSX index's 10 main groups were in the red, with the fall led by the materials sector, which was down 2 percent.
Barrick Gold (ABX.TO: Quote), the world's largest gold miner, dropped 2.36 percent to C$53.47. Goldcorp (G.TO: Quote) was not far behind, falling 2.89 percent to C$45.99. The gold miners dropped on a 1 percent fall in bullion prices, which were hurt by profit-taking for a second day after hitting record highs. [GOL/]
The energy group, another index powerhouse, fell 0.98 percent on an unexpectedly large increase in U.S. fuel inventories and a stronger U.S. dollar. [O/R]
Canadian Natural Resources (CNQ.TO: Quote), the country's No. 1 independent oil producer, slid 2.32 percent to C$42.07, while Canada's biggest energy company, Suncor Energy (SU.TO: Quote), gave back 1.64 percent to finish at C$36.06.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE finished down 98.67 points, or 0.74 percent, at 13,152.00.
The index's financial group was the lone advancer, rising 0.56 percent. Manulife Financial (MFC.TO: Quote) gained 3.97 percent to 15.98, while Toronto Dominion Bank (TD.TO: Quote) was up 1.43 percent at C$73.20.
"What you're seeing is a little bit of rotation from gold stocks into the financials," said Youssef Zohny, associate portfolio manager, Van Arbor Asset Management.
Bonterra Energy (BNE.TO: Quote) was the biggest net gainer, up C$3.13, or 7.06 percent, at C$47.48. The oil and gas company has climbed more than 12 percent since announcing a dividend on Dec. 2.
($1=$1.01 Canadian) (Reporting by Solarina Ho; editing by Peter Galloway)
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