CANADA STOCKS-TSX drops on global growth worries, energy shares

Mon Dec 1, 2014 4:48pm EST
 
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* TSX down 119.38 points, or 0.81 percent, at 14,625.32

* Eight of 10 main index sectors decline

* Energy shares drop 1.4 percent

* Gold-mining shares soar with bullion price

By John Tilak

TORONTO, Dec 1 (Reuters) - Canada's main stock index declined on Monday as sluggish data raised concerns about the global economic recovery and shares of energy producers sold off despite a rebound in oil prices.

Manufacturing growth in Asia and Europe slowed in November due to weak demand, and U.S. manufacturing sector growth hit its lowest in 10 months, separate reports showed.

Oil prices remained volatile, initially slipping to a five-year low before rebounding to jump more than 4 percent.

The broader Canadian benchmark has been pulled down by recent weakness in energy shares, which have lost more than a third of their value since mid-June. The energy sector slipped 1.4 percent on Monday.   Continued...