CANADA STOCKS-TSX hits six-week low on China growth concerns
* TSX down 102.32 points, or 0.67 percent, at 15,163.06 * Six of the 10 main index sectors decline * Tekmira jumps after regulators approve Ebola treatment By John Tilak TORONTO, Sept 22 (Reuters) - Canada's main stock index fell on Monday, hitting a six-week low, as worries about China's economic growth and weakness in commodity prices weighed on shares of natural resource producers. A Reuters poll showed growth in the Chinese factory sector probably stalled in September. Further, the country's finance minister said that China will not dramatically alter its economic policy because of any one economic indicator. The Toronto equities market extended its slide after recording its biggest single-day fall in seven months on Friday. "We're seeing some nervousness coming in and you're looking at generally widespread weakness across the market," said Gavin Graham, chief strategy officer at Integris Pension Management Corp. "Valuations look pretty stretched," he added. "The rise in markets we've seen over the last nine months or so has been very largely driven by multiple expansion, not really by earnings growth." Graham expects the TSX index's pace to slow after the strong gains it has racked up since the start of the year. The index is up about 12 percent so far in 2014. The Toronto Stock Exchange's S&P/TSX composite index was down 102.32 points, or 0.67 percent, at 15,163.06. Six of the 10 main sectors on the index were in the red. Shares of energy producers shed 1.5 percent, mirroring a drop in the price of oil. Suncor Energy Inc dropped 1.2 percent to C$41.50, and Talisman Energy Inc fell 1.4 percent to C$9.92. The gold-mining sector was down 1.7 percent with Barrick Gold Corp losing 1.3 percent to C$16.88 and Goldcorp Inc declining 1 percent to C$25.64. In corporate news, Tekmira Pharmaceuticals Corp said that U.S. and Canadian regulators have authorized the use of its Ebola treatment in patients who have confirmed or suspected infections from the deadly virus. Shares of the drugmaker jumped 9 percent to C$24.65. ($1=$1.10 Canadian) (Editing by Peter Galloway)
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