CANADA STOCKS-TSX falls on geopolitical woes; miners slip

Fri Aug 15, 2014 11:10am EDT
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* TSX down 65.26 points, or 0.43 percent, at 15,225.92
    * Eight of 10 main index sectors decline
    * Imperial Metals jumps after financing plans

    By John Tilak
    TORONTO, Aug 15 (Reuters) - Canada's main stock index
declined on Friday, weighed by geopolitical concerns in Ukraine
and weaker gold-mining shares following the bullion price lower.
    NATO accused the Kremlin of escalating the conflict in
Ukraine after reports that a small column of Russian armored
vehicles had crossed overnight into an area of Ukraine where
pro-Moscow rebels are battling government forces.
    Investors also digested news of a revised Canadian jobs
report for July, which turned out to be better than initially
    The Toronto market has been choppy in the past two weeks
because of the flaring of tensions in Ukraine, Iraq and Israel.
Some market analysts expect volatility to stay high in the
upcoming months.
    "Overall we're still in the seasonally weakest period of the
year for stocks," said Colin Cieszynski, chief market strategist
at CMC Markets.
    "Even though capital is going into the market, it's going
into the more defensive areas, which suggests some caution and
the risk of a correction at some point," he added.
    The Toronto Stock Exchange's S&P/TSX composite index
 was down 65.26 points, or 0.43 percent, at 15,225.92.
Eight of the 10 main sectors on the index were in the red.
    Financials, the index's most heavily weighted sector, gave
back 0.5 percent, with Toronto Dominion Bank losing 0.7
percent to C$56.51 and Royal Bank of Canada  falling 0.5
percent to C$79.72. 
    Shares of energy producers declined despite a gain in the
price of oil. Canadian Natural Resources Ltd shed 0.3
percent to C$44.56.
    The gold-mining sector slumped 1.5 percent, mirroring a
decline in the price of bullion. Goldcorp Inc dropped 1.4
percent to C$31.14 and Barrick Gold Corp was down 1.3
percent, at C$20.57.
    In corporate news, Imperial Metals Corp, the
company behind last week's major spill of mine waste in Western
Canada, took steps to raise C$100 million ($92 million) in debt
to cover cleanup costs and finish building its newest mine. The
stock jumped 13 percent to C$9.86.  

 (Editing by Chris Reese)