CANADA STOCKS-TSX ends lower as Fed report hits confidence

Wed Jun 9, 2010 5:16pm EDT
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* TSX closes down 66.54 points at 11,450.64

* Financials, gold issues weigh

* Energy, base metals higher (Adds details, quotes)

By Claire Sibonney

TORONTO, June 9 (Reuters) - Toronto's main stock index fell on Wednesday in another rocky finish as investor sentiment soured after the Federal Reserve's Beige Book said economic growth was subdued in many regions of the United States.

The TSX's economically sensitive financial sector fell 1.2 percent in reaction. Royal Bank of Canada (RY.TO: Quote) dropped 1.6 percent to C$52.03, and Toronto-Dominion Bank (TD.TO: Quote), was down 1.2 percent at C$68.89.

Both banks reported weaker than expected earnings nearly two weeks ago, which has been weighing on the sector ever since.

As well, gold stocks ended more than 2 percent lower as the price of the precious metal retreated from the record high it set on Tuesday. [GOL/]

Barrick Gold Corp (ABX.TO: Quote), the world's largest producer, dropped 2.1 percent to C$44.55, while Goldcorp Inc (G.TO: Quote) also declined 2.1 percent to C$45.44.   Continued...