CANADA STOCKS-TSX falls with oil price, earnings in focus

Thu Jan 14, 2010 5:38pm EST
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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 details)
 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
 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.
 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. Half of the index's 10 main groups were in the red,
including the commodity-linked sectors.
 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
 Nakamoto said the index's course in the next several weeks
would likely be determined by upcoming waves of earnings
 Technology shares were among winners on Thursday, rising
ahead of quarterly results from bellwether chipmaker Intel
INTC.O that came in well ahead of expectations after the
market close. [ID:nWNAB4525]
 The S&P/TSX composite's infotech group gained 1.5 percent,
leading sectors that advanced on Thursday. Shares of Research
In Motion RIM.TO rose 1.1 percent to C$68.12 to top overall
gainers for a second straight session.
 Canadian corporate results are slowly trickling in, though
the majority won't be in for another couple of weeks. Shaw
Communications Inc SJRb.TO dipped 0.19 percent to C$20.66
after it reported mixed first-quarter results and provided
disappointingly scant details of its wireless plans.
 Astral Media Inc ACMa.TO rose 0.43 percent to C$34.85
after reporting a sharp rise in earnings.  [ID:nN14146100]
 ($1=$1.02 Canadian)
 (Reporting by Ka Yan Ng; editing by Peter Galloway)