January 8, 2013 / 4:38 PM / 6 years ago

CANADA STOCKS-TSX falls on earnings caution; Barrick ends deal talk

* TSX falls 31.97 points, or 0.26 percent, to 12,467.58
    * Six of 10 main sectors decline
    * Barrick Gold shares fall 1 percent

    By John Tilak
    TORONTO, Jan 8 (Reuters) - Canada's main stock index fell on
Tuesday on investor caution over the U.S. fourth-quarter
earnings season and a decline in Barrick Gold Corp 
after it pulled out of talks to sell its African unit.
     Barrick shares fell 1 percent after the world's top gold
miner said it had ended talks to sell a stake in its struggling
African Barrick Gold subsidiary to a Chinese buyer.
 The stock played a major role in leading the
market lower.
    Investors were also approaching the earnings seasons in
Canada and in the United States, where results got under way on
Tuesday, with a mixture of hope and caution, said Irwin Michael,
portfolio manager at ABC Funds.
    "People are hoping that 2013 will be a better year than it
was in 2012, particularly in Canada. But there's still a lot of
confusion, a lot of cash on the sidelines," he said.
    "It's still early in the year. People are waiting to get
better visibility," Michael added.
    The Toronto Stock Exchange's S&P/TSX composite index
 was down 31.97 points, or 0.26 percent, at 12,467.58.
Six of the 10 main sectors on the index were down.
     The materials sector, which includes mining stocks, was
little changed as Barrick's move was offset by gains in
fertilizer giant Potash Corp, up 0.5 percent at
C$41.33, and miner Goldcorp Inc, which rose 0.8 percent
to C$34.96.
    The energy sector shed 0.6 percent. Canadian Natural
Resources fell 1.5 percent to C$29.34, and Suncor
Energy Inc was down 0.6 percent at C$33.04.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below