CANADA STOCKS-TSX ends lower on euro worries, jobs data

Fri Nov 4, 2011 6:02pm EDT
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   * TSX falls 60.10 pts, or 0.48 pct, to 12,408.25
 * Canadian jobs data unexpectedly weak; U.S. data mixed
 * Financials down more than 1 pct
 * Greek confidence vote looms
 (Adds details)
 By Jon Cook
 TORONTO, Nov 4 (Reuters) - Canadian stocks turned lower on
Friday following two days of gains as uncertainty about the
fate of the Greek debt bailout package and weak North American
jobs data hurt investor confidence.
 Markets were focused on a parliamentary vote of confidence
in the government of Greek Prime Minister George Papandreou on
Friday night, which could derail the euro zone bailout plan
that was hammered out last week. [ID:nL6E7M4019]
 Adding to investor worries, German Chancellor Angela Merkel
said few countries in the Group of 20 leading economies had
committed to the bailout fund. [MKTS/GLOB]
 The uncertainty had investors "locking in profits before
the weekend," said Paul Mesburis, portfolio manager at Excel
Funds Management.
 Unexpected job losses also threw the market a curve, as
data showed the Canadian economy unexpectedly lost 54,000 jobs
in October after a strong September. [ID:nN1E7A30MF]
 "Given the kind of optimism that we have preached around
here for a while about the state of the economy of Canada, some
people might be a little bit surprised by those numbers," said
Fred Ketchen, director of equity trading at ScotiaMcLeod.
 U.S. jobs data was mixed. U.S. employers hired fewer
workers in October but the jobless rate fell to a six-month low
and revisions showed job gains in the previous two months were
stronger than thought, pointing to some improvement in the
still-weak labor market. [ID:nN1E7A21ET]
 The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE ended down 60.10 points, or 0.48 pct, at 12,408.25,
clawing back some losses in the afternoon after hitting a
session low of 12,308.21.
 For the week, the TSX was down less than 1 percent despite
huge daily swings.
 Five of the index's 10 main sectors were negative. The
financials sector led the TSX lower, falling 1.4 percent. Royal
Bank of Canada (RY.TO: Quote) was the biggest loser, dropping 2.4
percent to C$45.85.
 Energy stocks slid 0.6 percent, with Canadian Natural
Resources (CNQ.TO: Quote) down 1.3 percent at C$37.73 after gaining
more than 9 percent the previous session.
 The index's heavily weighted materials sector rallied late
to finish up 0.2 percent, driven by Potash Corp (POT.TO: Quote), which
rose 1.5 percent to C$48.89.
 A day after its stock hit a seven-year low, BlackBerry
maker Research In Motion's RIM.TO shares rose 1.5 percent to
C$19.31, helping lead the technology sector up 0.4 percent.
 In individual company news, DragonWave Inc DWI.TO shares
jumped more than 40 percent after the telecom network equipment
maker announced it would buy the microwave technology business
of Nokia Siemens Networks [NOKI.UL] in a deal worth as much as
110 million euros (C$155 million). [ID:nL4E7M410P]
 ($1=$1.02 Canadian)
 (Editing by Jeffrey Hodgson and Peter Galloway)