CANADA STOCKS-TSX falls as China rate hike hits commodities
*TSX falls 60.74 points to 12,607.27
*Six of index's 10 sectors weaker
*Financial group up 0.4 percent (Updates with details, commentary)
By Claire Sibonney
TORONTO, Oct 19 (Reuters) - Toronto's main stock index fell on Tuesday morning as commodity prices weakened on the back of a stronger greenback after China unexpectedly hiked interest rates.
Gold, base-metals and oil prices all tumbled, and the safe-haven U.S. dollar rose, following the announcement, which caught investors off guard. [O/R] [GOL/] [MET/L]
Among the biggest decliners on the Toronto market were gold-mining shares, down 2.6 percent; base-metal miners, off 2.3 percent; and energy producers, which fell 0.7 percent.
Barrick Gold Corp ABX.TO, the world's No. 1 gold producer, fell 3.1 percent to C$47.03, while Agnico Eagle (AEM.TO: Quote) sank 3.3 percent to C$71.04.
"What really hit the market was China's move," said Fergal Smith, managing market strategist at Action Economics. Continued...