CANADA STOCKS-TSX declines as China data spurs energy-sector weakness
* TSX down 68.25 points, 0.47 percent, at 14,545.07 * Seven of the 10 main index sectors decline * Energy shares lead fall By John Tilak TORONTO, Nov 3 (Reuters) - Canada's main stock index dropped on Monday as sluggish economic data from China and a fall in the oil price weighed on shares of energy producers. Figures showed that growth in the Chinese services sector slumped to a nine-month low in October, highlighting concerns of a slowdown in the world's second-biggest economy. Further, the U.S. dollar has been surging since the Bank of Japan unveiled fresh stimulus measures late last week, and that has put pressure on commodity prices such as oil and bullion. The Toronto stock market's energy sector, which has lost nearly a quarter of its value since the middle of June, had the biggest negative influence on the benchmark index. "Sentiment is weak. I don't think the energy sector will come roaring back anytime soon," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier. Continuing weakness in the energy group could have repercussions for the broader Canadian economy, he said. However, he noted that valuations in the group have been looking attractive and investors could take advantage of the lower prices if they are looking at a longer-term strategy. The Toronto Stock Exchange's S&P/TSX composite index was down 68.25 points, 0.47 percent, at 14,545.07. Seven of the 10 main sectors on the index were in the red. Among energy shares, Canadian Natural Resources Ltd dropped 1.8 percent to C$38.63, and Suncor Energy Inc declined 1 percent to C$39.63. Financials, the index's most heavily weighted sector, was down 0.4 percent. Bank of Nova Scotia shed 0.5 percent to C$68.67, and Toronto-Dominion Bank fell 0.3 percent to C$55.29. (41=$1.13 Canadian) (Editing by Peter Galloway)
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