CANADA STOCKS-TSX pulled lower by sagging commodities
* TSX down 1.28 percent at 10,508.98
* U.S. dollar strength pushes commodities prices lower (Adds details, quotes)
By Jennifer Kwan
TORONTO, June 15 (Reuters) - Toronto's main stock index fell on Monday morning as a strong U.S. dollar pushed down commodity prices, putting the stock market's big resource shares under pressure.
The greenback rose broadly after Russia's finance minister expressed confidence in the currency [ID:nLF600321], helping to push oil CLc1 down to around $71 a barrel, while gold and base metals prices were also lower.
The TSX index's energy sector was down 2.2 percent, while its mining-heavy materials group fell 1.4 percent.
The weakness in commodities was also due to a report from China that cited an influential economist as saying China's economy will not experience a rapid recovery because it will take time to find a new growth engine to replace sagging exports.[ID:nPEK255337]
China has widely been expected to be a major driving force behind a global economic turnaround, said Francis Campeau, broker at MF Global Canada in Montreal. Continued...