CANADA STOCKS-TSX deepens decline, despite rosy GDP data

Fri Jan 29, 2010 4:34pm EST
 
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* TSX drops 1.6 percent to 11,094.31

* Potash Corp leads decliners for second day

* Economic data fails to calm "spooked" investors (Adds details)

By Ka Yan Ng

TORONTO, Jan 29 (Reuters) - Toronto's main stock index sank 1.6 percent on Friday to close at its lowest level in three months, pressured by weak commodity prices after stronger than expected U.S. economic data sparked a rally in the greenback.

The heavyweight energy and materials sectors were among two of the big drags on the index, down 1.2 percent and 3.5 percent respectively, as prices for crude oil and gold drove lower. [O/R] [GOL/]

Influential decliners included Barrick Gold (ABX.TO: Quote), down 3.1 percent at C$37.12, while Suncor Energy (SU.TO: Quote) dropped 1.7 percent to C$33.76.

Fertilizer producer Potash Corp (POT.TO: Quote) slumped for a second straight session, down 4.8 percent at C$105.92.

Royal Bank of Canada (RY.TO: Quote) was the top heavyweight decliner, falling 2.24 percent to C$52.28.   Continued...