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: Quote) and Barrick Gold (ABX.TO: Quote) 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: Quote) 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)