REFILE-CANADA STOCKS-TSX slides as oil prices weaken

Thu Jan 14, 2010 5:35pm EST
 
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 (Refiles to insert dropped words in third bullet and fourth
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 * TSX falls 0.41 percent to 11,804.38
 * Gold producers unable to rise with price of gold
 * Market focus shifts to corporate results
 (Adds detals, updates closing numbers)
 TORONTO, Jan 14 (Reuters) - Toronto's main stock index fell
on Thursday, hurt by weakening oil prices and by gold producers
that failed to find support even though gold prices turned
higher.
 Miners Goldcorp G.TO and Barrick Gold ABX.TO were among
some of the index's top overall decliners, unable to benefit
from a move higher in the gold price after the U.S. futures
regulator said it would review possible position limits on gold
and silver.
 Goldcorp sagged 2.44 percent to C$41.51, while Barrick fell
1.36 percent C$41.38.
 Oil prices fell for a fourth straight session as weak U.S.
economic signals and high inventories spurred fears of a
sluggish rebound in demand in the world's largest energy
consumer. Also hurting prices was a proposal by the U.S.
regulator to limit how many energy contracts hedge funds,
investment banks and other speculators can control.
[ID:nCFTCREG]
 EnCana ECA.TO dropped 1.43 percent to C$35.80, while
Nexen NXY.TO lost 3.1 percent to C$23.88.
 "Commodities are the ones dragging us down but I don't
think it's anything serious. We've had a nice pop from the
beginning of the year," said Ian Nakamoto, director of research
at MacDougall, MacDougall & MacTier.
 The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE closed down 49.18 points, or 0.41 percent, at
11,804.38.
 The energy group and the mining-heavy materials group are
heavyweight sectors of the S&P/TSX composite, making up nearly
half of its weighting, and they regularly set the index's
direction .
 Nakamoto said the index's course in the next several weeks
would likely be determined by upcoming waves of earnings
reports.
 ($1=$1.02 Canadian)
 (Reporting by Ka Yan Ng; editing by Peter Galloway)