CANADA STOCKS-TSX slips on U.S. retail sales, commodities

Wed Jul 14, 2010 10:28am EDT
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* TSX down 55.75 points at 11,617.09

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

By Claire Sibonney

TORONTO, July 14 (Reuters) - Toronto's main stock index drifted lower on Wednesday as commodity prices softened and weak U.S. retail sales data offset better than expected U.S. corporate results.

Data showed a second straight month of declining U.S. retail sales in June, though robust results from technology bellwether Intel Corp (INTC.O: Quote) fed optimism that second-quarter company earnings will impress investors. [.N]

As well, oil eased to below $77 a barrel, falling from a two-week high, after a weekly industry report showed a surprise increase in U.S. crude inventories, pushing down energy stocks 0.8 percent. [O/R]

Suncor Energy (SU.TO: Quote) lost 1.3 percent to C$32.74, while Canadian Natural Resources (CNQ.TO: Quote) shed 1 percent to C$36.47.

The materials sector was also 0.5 lower after a rally in gold and copper prices fizzled. [GOL/] [MET/L]

Barrick Gold Corp (ABX.TO: Quote) was down 0.5 percent to C$44.38, and Teck Resources TCKb.TO slipped 0.9 percent to C$34.58.   Continued...