CANADA STOCKS-TSX drops on weak data, golds offset

Thu Aug 19, 2010 10:26am EDT
 
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* TSX falls 0.27 percent to 11,749.85

* Weak data raises worries about world economy

* Materials rise on golds, Potash (Adds details)

By Ka Yan Ng

TORONTO, Aug 19 (Reuters) - Toronto's main stock index fell on Thursday morning after weaker-than-expected economic data underscored the fragility of the global recovery.

Early data showed initial U.S. jobless claims unexpectedly rose last week. Data for Canadian wholesale trade for June and the leading indicator for July came in lower than expected. [ID:nSCLJJE64O] [ID:nSCLJJE64P] [ID:nN18197408]

"Some weak employment numbers in the U.S. and a very disappointing wholesale data in Canada has been putting the Canadian market under pressure," said Francis Campeau, broker at MF Global Canada in Montreal.

The losses mounted after the Philadelphia Federal Reserve's business index for August fell unexpectedly. [ID:nEAP104J00]

At 10:15 a.m. (1415 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was off 31.23 points, or 0.27 percent, at 11,749.85 after opening higher.   Continued...