CANADA STOCKS-TSX pressured as oil cools, gold loses luster

Mon Mar 28, 2011 4:34pm EDT
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   * TSX ends down 146.66 points, or 1.04 pct, at 13,892.73
 * All 10 main groups lower
 * Materials, energy lead decline
 (Updates to close, adds details, quotes)
 By Claire Sibonney
 TORONTO, March 28 (Reuters) - Toronto's main stock index
retreated on Monday as commodity prices fell from recent lofty
levels, driving energy and mining shares to steep losses.
 The most influential decliners were in the mining and
energy sectors, which combined make up about half of the TSX's
main index.
 The materials sector, home to mining companies, was down
1.8 percent while oil and gas stocks were off 1.3 percent.
 Barrick Gold Corp ABX.TO dipped 1.5 percent to C$49.74,
while Agnico Eagle AEM.TO dropped 2.6 percent to C$64.65.
Suncor Energy SU.TO was down 1.8 percent at C$43.33 and Nexen
Inc NXY.TO tumbled 3.1 percent to C$23.61.
 The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE ended down 146.66 points, or 1.04 percent, at
3,892.73, its weakest close since March 21. All of the index's
10 main groups were in the red, including financials, down 0.5
 Comments last Friday by Federal Reserve officials that the
U.S. central bank would have to raise interest rates in the
"not-too-distant future" to avoid inflation helped pressure oil
and gold prices, as did and easing worries about unrest in the
Middle East and North Africa. [GOL/] [O/R]
 As well, copper suffered its biggest one-day loss in about
three weeks on concerns about softness in Chinese demand and
rising inventory levels. Diversified miner Teck Resources
TCKb.TO slid 2.2 percent to C$51.50. [MET/L]
 "Investors are totally geared to having the Fed sit on the
sidelines in terms of rate hikes and anything that causes a
change in that scenario could have a detrimental impact on
equity markets," said Elvis Picardo, an analyst and strategist
at Global Securities in Vancouver.
 He added that "commodity prices have fallen to some extent
... in the hope that the Libyan situation will get resolved
sooner rather than later."
 In individual company news, shares of Lululemon Athletica
LLL.TO jumped almost 8 percent to C$83.32 after stock pundit
Jim Cramer praised the Canadian yoga-wear retailer on his Mad
Money show on CNBC on Friday. The company announced two-for-one
stock split after the market close. [ID:nN28207842]
 ($1=$0.98 Canadian)
 (Reporting by Claire Sibonney; editing by Rob Wilson)