CANADA STOCKS-Resources pull down TSX as "fiscal cliff" eyed

Tue Nov 27, 2012 5:01pm EST
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* TSX ends down 73.42 points, or 0.6 pct, at 12,111.63

* Sluggish U.S. "fiscal cliff" negotiations in focus

* Greek deal panned for lack of detail

* Bombardier jumps 8 pct after signing $7.8 bln plane deal

By Alastair Sharp

TORONTO, Nov 27 (Reuters) - Canadian stocks fell on Tuesday, weighed down by losses in heavyweight gold-mining and energy shares as bullion and oil dipped and investors brushed off a Greek debt deal, focusing instead on sluggish talks to avoid a looming U.S. fiscal crisis.

The U.S. Congress advanced by inches toward compromise on taxes and spending to try to avert the "fiscal cliff" that some fear will spur a recession but a firm deal still seemed miles away despite growing pressure from business interests for action.

"This is going to continue ad nauseam. Fiscal cliff is the theme of the day," said Levente Mady, a senior portfolio manager at PI Financial Corp in Vancouver.

Initial optimism about a Greek debt-reduction deal gave way to worries about the lack of detail in the plan, hurting the euro.   Continued...