CANADA STOCKS-TSX falls as commodity prices drop
* TSX down 1.04 percent at 11,515.99
* Gold down 2 percent; oil price falls
* U.S. dollar hits three-month high (Adds details, comments)
By Irene Kuan
TORONTO, Dec 17 (Reuters) - Toronto's main stock index fell more than 1 percent on Thursday morning as the U.S. dollar soared to a three-month high against the euro, hurting commodity prices, and weighing on the index's materials and energy sectors.
Shares of fertilizer producer Potash Corp (POT.TO: Quote) fell 2.6 percent to C$122.30, while gold-mining giant Barrick Gold (ABX.TO: Quote) was down 2 percent at C$41.40. Suncor Energy (SU.TO: Quote) fell 1 percent to C$37.49.
"The weakness in the commodities is just a reflective of that fear that the (U.S.) recovery may be impinged by rising debt levels," said Michael Sprung, president at Sprung & Co. Investment Counsel.
Gold prices fell more than 2 percent in Europe, pressured by the U.S. dollar's strength, while oil prices fell towards $72 a barrel. [GOL/] [O/R]. The U.S. dollar was higher a day after the U.S. Federal Reserve highlighted improvement in the U.S. economy. [FRX/]
At 10:20 a.m. (1520 GMT), the S&P/TSX composite index .GSPTSE was down 121.05 points, or 1.04 percent, at 11,515.99.
($1=$1.07 Canadian) (Editing by Peter Galloway)
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