CANADA STOCKS-TSX drops on "sloppy" commodities

Tue Nov 24, 2009 4:53pm EST
 
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 * 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: Quote) 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: Quote) 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: Quote) was off 2.2 percent at C$45.84, and Barrick
Gold (ABX.TO: Quote) 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: Quote) 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))
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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 .......
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>
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  Gold.........[GOL/X] or [GOL/]
  CRB index of commodity futures.........[CRB/]