CANADA STOCKS-TSX pressured by commodities, profit-taking

Fri Nov 20, 2009 10:25am EST
 
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 * TSX down 88.76 points at 11,511.54
 * All 10 sectors lower, materials lead retreat
 (Adds details, quotes)
 By Irene Kuan
 TORONTO, Nov 20 (Reuters) - Toronto's main stock index was
lower on Friday morning as weaker commodity prices, caused
partly by a stronger U.S. dollar, pressured shares of Barrick
Gold ABX.TO and other resource issues.
 Barrick fell 1.8 percent to C$46.47, while Suncor Energy
SU.TO dropped 1 percent to C$37.87. Canadian Natural
Resources CNQ.TO slid 1 percent to C$70.38.
 Oil prices fell below $77 a barrel while gold prices were
also weaker. [O/R] [GOL/]
 "The commodities are lower across the board coming in, and
we've got some profit-taking," said Bruce Latimer, a trader at
Dundee Securities.
  The pullback came after the resource-heavy TSX rose to a
13-month high earlier this week.
 At 10:07 a.m. (1507 GMT), the S&P/TSX composite index
.GSPTSE was down 88.76 points, or 0.77 percent, at 11,511.54
with all 10 of its main groups lower.
 The market downturn came after Bank of Canada Governor Mark
Carney said on Thursday evening that Canada's economy performed
worse than expected in the third quarter, but was now
recovering. He also cautioned that it risks further setbacks
due to a strong Canadian dollar. [nN19514256]
 Earlier on Thursday, Finance Minister Jim Flaherty
suggested he thought the economy could have stood still in the
third quarter.
 ($1=$1.07 Canadian)
 (Reporting by Irene Kuan; editing by Rob Wilson)