UPDATE 1-Toronto stock index falls on resources, jobs data

Fri Aug 8, 2008 10:49am EDT
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*TSX index sags on tumble in oil and gold

*July jobs data helps send index lower

*Telus jumps after quarterly results

TORONTO, Aug 8 (Reuters) - The Toronto Stock Exchange's main index was lower on Friday morning as oil and gold prices fell and July Canadian jobs figures came in much weaker than expected.

The price of oil slipped to around $116 a barrel on demand concerns, while gold also sagged, sending the index's energy and materials sectors down 2.8 percent and 2.9 percent respectively.

EnCana Corp (ECA.TO: Quote) fell C$2.13, or 2.9 percent, to C$72, while Potash Corp of Saskatchewan (POT.TO: Quote) dropped C$5.29, or 2.8 percent, to C$183.70.

The stock market fall reflects concern that the global economy is showing strain, said Vincent Delisle, strategist at Scotia Capital in Montreal.

"The U.S. dollar is rebounding and commodity prices are declining," Delisle said. "For Canada, this is being compounded by very weak employment data."   Continued...