CANADA STOCKS-TSX drops on China data; gold miners dive
* TSX falls 30.13 points, or 0.21 percent, to 14,305.63 * Five of the 10 main index sectors decline * Gold-mining shares drop more than 2 percent By John Tilak TORONTO, March 24 (Reuters) - Canada's main stock fell on Monday as sluggish Chinese economic data raised fears of a slowdown in the world's second-biggest economy, while weaker gold-mining shares also weighed on investor sentiment. Shares of gold producers fell with the price of bullion after the U.S. dollar advanced. The Toronto stock market's benchmark index was lower after recording a 0.8 percent gain the previous week. It is still up more than 5 percent this year. A survey showed that China's manufacturing industry contracted in the first quarter of 2014, adding to a slew of recent data indicating the Chinese economy, a big buyer of Canadian resources, is struggling to maintain growth. "You can't grow at 10 percent forever," said Colin Cieszynski, senior market analyst at CMC Markets Canada. "There are some risks in China," he added. "Over the longer term you'd expect growth in China to moderate." Cieszynski said he expects U.S. economic growth to help drive gains in Toronto and take the benchmark index to 15,000 by the end of the year. The Toronto Stock Exchange's S&P/TSX composite index was down 30.13 points, or 0.21 percent, at 14,305.63. Five of the 10 main sectors on the index were lower. Gold-mining shares dropped more than 2 percent, hurt by a 1.4 percent fall in the price of bullion. Barrick Gold Corp lost 2.5 percent to C$21.21, and Goldcorp Inc gave back 2.4 percent to C$29.14. Financials, the index's most heavily weighted sector, added 0.3 percent. Bank of Nova Scotia was up 0.3 percent at C$65.06, and Toronto-Dominion Bank advanced 0.3 percent to C$51.69. Shares of energy producers were up following a gain in the price of oil. Suncor Energy Inc climbed 0.7 percent to C$36.60. ($1=$1.12 Canadian) (Editing by Peter Galloway)
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