CANADA STOCKS-TSX continues slide as resources retreat

Wed Jan 13, 2010 11:15am EST
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* S&P/TSX composite down 0.66 percent at 11,741.62

* Energy producers hurt by oil below $80 a barrel

* Gold miners fall as bullion slips (Adds details, quotes)

By Claire Sibonney

TORONTO, Jan 13 (Reuters) - Toronto's main stock index fell for a third day on Wednesday as investors continued to worry that China's moves to tighten monetary policy could cut demand for key commodities such as oil and metals.

Shares of Suncor Energy Inc (SU.TO: Quote) led the index's decliners, dropping 1.7 percent to C$37.22.

"The commodities are just volatile and they're going to remain to be volatile over the next while," said Bruce Latimer, a trader at Dundee Securities.

At 10:23 a.m. (1523 GMT) the resource-heavy S&P/TSX composite index .GSPTSE was down 78.56 points, or 0.66 percent, at 11,741.62. Eight of the index's 10 main groups were lower, led by a 1.03 percent drop in the energy sector.

Oil fell to its lowest level this year on rising U.S. inventories and concerns about China, dipping below $80 a barrel. [O/R]   Continued...