CANADA STOCKS-TSX edges down on tepid economic data

Fri Aug 13, 2010 11:16am EDT
 
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* TSX down 11.16 points at 11,512.44

* Six of 10 sectors lower (Updates with details, commentary)

By Claire Sibonney

TORONTO, Aug 13 (Reuters) - Toronto's main stock index edged lower in wobbly trading on Friday morning after a slew of mixed data suggested tepid economic growth for the United States.

The heavyweight energy, financial and materials sectors were down, but the gold mining group, off more than 1 percent, was the biggest drag on the index as the price of the precious metal retreated from a one-month high after the somewhat positive U.S. retail sales and inflation data. [GOL/]

Barrick Gold Corp ABX.TO lost 0.7 percent to C$44.75 while Goldcorp Inc G.TO shed 1.3 percent to C$41.46.

A Thomson Reuters/University of Michigan survey found U.S. consumer sentiment inched up in early August and U.S. business inventories rose in June to their highest level in a year, but sales fell.

Earlier, data showed U.S. retail sales rebounded in July but showed hints of lingering economic softness, underscored by separate figures indicating underlying inflation pressures were stuck at their lowest level since the 1960s. [ID:nN13180040]

"From what I saw (the U.S. inflation and retail sales data) wasn't horrid but it wasn't great. It was kind of in line with expectations," said Bruce Latimer, a trader at Dundee Securities.   Continued...