CANADA STOCKS-TSX sags on weaker commodity prices

Tue Mar 9, 2010 1:19pm EST
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 * TSX down 11.83 points, or 0.1 percent, at 11,952.01
 * Energy, materials shares lead TSX lower
 * Scotiabank falls 1.1 pct despite profit rise
 (Adds details, quote)
 By Jennifer Kwan
 TORONTO, March 9 (Reuters) - Toronto's main stock index
slipped on Tuesday as a firmer U.S. dollar weighed on oil and
gold prices, pushing down heavily weighted resource shares.
 The materials sector, home to mining and fertilizer shares,
dropped 0.1 percent as gold and base metal prices sagged on
broad risk aversion. [GOL/] [MET/L]
 Barrick Gold ABX.TO fell 0.3 percent to C$40.70, and Teck
Resources TCKb.TO dropped 0.8 percent to C$41.23. Suncor
Energy SU.TO dropped 1.6 percent to C$31.51 as oil prices
fell to around $81.50  a barrel. [O/R]
 At 1:02 p.m. (1802 GMT), the S&P/TSX composite index
.GSPTSE was down 11.83 points, or 0.1 percent, at 11,952.01.
The index briefly popped into positive territory at midday as
oil and gold prices steadied, recovering some early losses in
the heavyweight resource sectors. [O/R] [GOL/]
 Anxiety about the economic outlook has crept back into the
market and is resulting in lackluster trade, market watchers
 "There's no catalyst pushing the market either way today,"
said Steve Ibel, institutional equities trader at Beacon
Securities, in Halifax, Nova Scotia.
 "People are looking more at one-off value places rather
than deploying money aggressively in one sector over another,"
he added.
 Bank of Nova Scotia BNS.TO said its profit rose in its
first quarter, beating analysts' expectations, as domestic
banking earnings surged and loan losses were lower than
anticipated [ID:N08126522]. Shares of Canada's third-largest
lender fell 1.1 percent to C$49.53, however.
"Earnings from Scotia were better than expected, but I
think the market went ahead of itself and all the good news was
already priced in. Now that earnings are out of the way, you're
seeing some small profit-taking," said Francis Campeau, broker
at MF Global Canada, in Montreal.
 ($1=$1.02 Canadian)
 (Reporting by Jennifer Kwan; editing by Peter Galloway)