CANADA STOCKS-TSX declines as Ukraine tensions intensify
* TSX down 51.68 points, or 0.35 percent, at 14,645.35 * Nine of 10 main index sectors decline * BCE, WestJet drop after reporting results By John Tilak TORONTO, May 6 (Reuters) - Canada's main stock index fell on Tuesday on worries about escalating tensions in Ukraine and weakness in the materials sector from lower commodity prices. Ukraine appeared to be inching closer towards war, with supporters of Russia and of a united Ukraine accusing one another of tearing the country apart. Data that showed a narrowing of the U.S. trade deficit in March failed to bring much comfort. Canada's trade surplus plummeted to C$79 million ($72 million) in March from C$847 million in February. The Toronto market, which is up about 7.5 percent this year, slipped for a second straight session. "We're having a little correction here," said David Cockfield, managing director and portfolio manager at Northland Wealth Management. "Ukraine is finally making markets a little nervous." "It's a nasty situation. It could descend into a civil war," he added. "This could continue for a while." Cockfield, who expects the TSX to outperform U.S. stocks this year, said the underlying fundamentals of the Canadian market were solid. The Toronto Stock Exchange's S&P/TSX composite index was down 51.68 points, or 0.35 percent, at 14,645.35. Nine of the 10 main sectors on the index were in the red. Financials, the index's most heavily weighted sector, gave back 0.4 percent. Toronto Dominion Bank was down 0.5 percent at C$51.98, and Bank of Montreal lost 0.5 percent to C$74.96. The materials sector, which includes mining stocks, shed 0.6 percent. Potash Corp slipped 1.2 percent to C$39.16. With the price of bullion falling, Barrick Gold Corp fell 0.7 percent to C$18.97. In corporate news, BCE Inc reported a better-than-expected adjusted profit, helped by the inclusion of TV and radio content producer Astral Media and strong growth in its wireless business. But the stock gave back 1.1 percent to C$48.38. WestJet Airlines Ltd dropped 2.3 percent to C$24.40 after the carrier reported quarterly results. (Editing by Andrew Hay)
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