November 24, 2009 / 9:54 PM / in 8 years

CANADA STOCKS-TSX drops on "sloppy" commodities

 * TSX falls 0.73 percent to 11,539.630
 * Bank shares mixed after initial rise on BMO's profit
 * U.S. Q3 GDP revision slightly lower than expected  (Adds details)
 By Ka Yan Ng
 TORONTO, Nov 24 (Reuters) - Toronto's main stock index fell on Tuesday, pulled lower by weakness in energy and metals producers, and weighed down by data showing a slow recovery in the United States.
 Bank stocks ended mixed after an early rise spurred by a 16 percent jump in Bank of Montreal's (BMO.TO) quarterly profit. All Big Five bank stocks topped the market's list of risers [ID:nN23263602] in the morning but those gains eroded as the market weighed BMO's results against U.S. data that showed slower-than-expected growth. [ID:nN24296971]
 "Overall I would have thought it would have had a slightly positive bias today, but from Canada's point of view, the commodities have been kind of sloppy all day," said Lex Kerkovius, senior research analyst at McLean & Partners Wealth Management Ltd, in Calgary.
 "I think people are just pausing here."
 The S&P/TSX composite index .GSPTSE finished down 84.39 points, or 0.73 percent, at 11,539.63, after opening higher.
 Royal Bank of Canada (RY.TO) led all heavyweight decliners with a 1.4 percent drop to C$57.37, but Bank of Nova Scotia rose 0.24 percent to C$49.24. Bank of Montreal fell 0.8 percent to C$53.14.
  Mining stocks were a key drag even as the price of gold turned higher, but base metals prices were under pressure. Goldcorp (G.TO) was off 2.2 percent at C$45.84, and Barrick Gold (ABX.TO) was down 1.47 percent to C$45.57. [GOL/] [MET/L]
  Oil and gas producers followed the price of crude lower, but Canadian Natural Resources (CNQ.TO) bucked the trend with a 1.4 percent gain to C$71.95.
 ($1=$1.06 Canadian)  (Editing by Peter Galloway)  ((kayan.ng@thomsonreuters.com; Reuters Messaging: kayan.ng.reuters.com@reuters.net; 416-941-8109)) ============================================================== FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS: TSX market report..........[.TO] Canadian dollar and bonds report....[CAD/][CA/] Top News: Canada ......[TOP/CAN] Today in Canada.......[CA/DIARY] Canadian company news .. [E-CAN] Reuters global stocks poll (Canada)...EQUITYPOLL5 [EPOLL/CA] FOR CANADIAN MARKETS DATA, CLICK ON CODES IN BRACKETS: Canadian Equities speed guide.......<CA/EQUITY> S&P/TSX Composite index ...............GSPTSE S&P/TSE Venture composite index .......SPCDNX TSX most active..........AV.TO Venture Exchange most active.............AV.V Top TSX pct gainers......PG.TO Top TSX pct losers.......PL.TO S&P/TSX 60 index ........TSE60 52 week highs:
 TSX...............t.YH.TO  Venture..............t.YH.V 52 week lows:
 TSX...............t.YL.TO  Venture..............t.YL.V Canadian dollar quote......CAD=CAD=D3=CAD FOR MAIN GLOBAL MARKET DATA AND MARKET REPORTS:   FTSE EUROTOP 300 ......FTEU3  EUROPEAN REPORT .......[.EU]   Nikkei 225..............N225  Tokyo report............[.T]   FTSE 100................FTSE  London report...........[.L]   Xetra DAX..............GDAXI  Frankfurt market stories[.F]   CAC-40...FCHI  Paris market stories...[.PA]   World Indices.......<0#.INDEX>   Foreign exchange........[FRX/]   Oil.......[O/R]   US Treasuries............[US/]   International bonds.....[EUB/]   Gold.........[GOL/X] or [GOL/]   CRB index of commodity futures.........[CRB/] 

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