May 17, 2010 / 2:33 PM / 7 years ago

CANADA STOCKS-TSX falls on weak commodity-linked shares

2 Min Read

* TSX down 86.93 points, or 0.72 percent, at 11,928.04

* Miners lead TSX lower

(Adds details, quote)

By Jennifer Kwan

TORONTO, May 17 (Reuters) - Toronto's main stock index posted broad losses on Monday morning as persistent euro-zone debt concerns kept investors away from risk, sending the index's heavily weighted commodity issues lower.

Barrick Gold (ABX.TO) dropped 0.3 percent to C$46.94 as bullion prices retreated from recent highs, while Teck Resources TCKb.TO fell 4.1 percent to C$33.89 as industrial metals weakened. [GOL/] [MET/L]

Canadian Natural Resources (CNQ.TO) fell 1 percent to C$71.90 as oil prices fell below $71 a barrel, partly on Europe's debt concerns, the weak euro and rising U.S. oil inventories. [O/R]

"The buyers are quite content to sit on the sidelines until they see some stabilization in the market," said Bruce Latimer, trader at Dundee Securities.

Shortly after 10 a.m. (1400 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 86.93 points, or 0.72 percent, at 11,928.04. Eight of the index's 10 main groups were lower.

Latimer also said broader concerns about demand growth in China weighed on investor sentiment.

"People are watching the China economy and feel if it is beginning to slow down, or taking a breather, you'll see a bit of a slowdown in commodities in general," he said.

Toronto-Dominion Bank (TD.TO) fell 1 percent to C$72.72 after it said it would buy troubled U.S. lender South Financial Group Inc TSFG.O for about $191.6 million to build on its presence in the U.S. Southeast, especially Florida. [ID:nSGE64G0HT]

Other active issues included Aeterna Zentaris AEZ.TO, which rose 6.3 percent to C$2.03, after it said that it would complete a mid-stage European study for its AEZS-108 compound later this year after the ovarian cancer treatment received an important recommendation from European regulators. [ID:nN17197658]

$1=$1.03 Canadian Additional reporting by Ka Yan Ng; Editing by Dan Grebler

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