CANADA STOCKS-TSX falls as China weighs, gold miners rally

Mon Jan 4, 2016 10:25am EST
 
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(Adds details, updates prices)

* TSX down 195.81 points, or 1.51 percent, at 12,814.14

* Eight of the TSX's 10 main groups lower

TORONTO, Jan 4 (Reuters) - Canada's main stock index fell in morning trade on Monday, weighed down by financial, consumer and industrial stocks in the first session of 2016 as a slump in Chinese shares spooked investors.

Twelve of the 13 most influential gainers on the Toronto Stock Exchange's S&P/TSX composite index were gold miners, jumping along with the price of bullion as investors sought safety amid Mideast tensions and weak manufacturing data in China.

Barrick Gold Corp rose 6.2 percent to C$10.87 and Goldcorp Inc advanced 4.3 percent to C$16.68, while gold futures rose 1.8 percent to $1,079.2 an ounce.

The overall materials group climbed 1.5 percent, while the energy group gained 0.8 percent, the only two of 10 main groups to rise.

China's factory activity contracted for the 10th straight month in December and at a sharper pace than in November, a private survey showed.

At 10:08 a.m. EST (1508 GMT), the TSX index was down 195.81 points, or 1.51 percent, at 12,814.14.   Continued...