CANADA STOCKS-TSX drops as global growth concerns trigger broad decline
* TSX down 136.63 points, or 0.93 percent, at 14,529.84 * All of 10 main index sectors decline * Canadian Tire jumps as it targets aggressive growth By John Tilak TORONTO, Oct 9 (Reuters) - Canada's main stock index dropped on Thursday, dragged by declines in every major sector, as sluggish data from Germany revived concerns about the global economic recovery. Investors have of late become increasingly concerned about Europe's economic health, with recent numbers from Germany indicating that growth was faltering there. Weakness in shares of energy producers, which reflected sluggish oil prices, had the biggest negative influence on the market. The benchmark TSX is down about 7 percent since hitting a record high last month. "The market will be paying very close attention to global growth and its impact on earnings in the upcoming earnings season," said Macan Nia, director of the portfolio advisory group at Manulife Asset Management. The theme of "synchronization of global growth" was becoming less pronounced, he said. "Europe is slowing, and our view of Europe is that they continue to face obstacles that monetary policy in itself cannot solve." The Toronto Stock Exchange's S&P/TSX composite index was down 136.63 points, or 0.93 percent, at 14,529.84. All of the 10 main sectors on the index were in the red. Shares of energy producers gave back 1.8 percent, reflecting a 1.1 percent drop in the price of U.S. crude oil. Canadian Natural Resources Ltd fell 2.5 percent to C$38.77, and Suncor Energy Inc lost 1.7 percent to C$37.58. Financials, the index's most heavily weighted sector, were down 0.3 percent. Bank of Nova Scotia slipped 0.4 percent to C$68.85. In corporate news, Canadian Tire Corp Ltd said it will target average earnings per share growth of 8 to 10 percent between 2015 and 2017 under an "aggressive plan to compete". The stock jumped 2 percent to C$119.40. Ithaca Energy Inc tumbled 8.9 percent, to C$1.75, after the company said it lowered its pro-forma production outlook for 2014. Shares of diversified miner Teck Resources Ltd dropped to a five-year low after China, the world's top coal importer, said it will levy import tariffs on the commodity. (Editing by Matthew Lewis)
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