April 7, 2010 / 8:31 PM / in 8 years

CANADA STOCKS-TSX falls for 2nd day as oil knocked back

* TSX down 0.38 percent to 12,110.90

* Energy, financials lead index lower

* Golds glitter as precious metal surges (Updates to close)

By Ka Yan Ng

TORONTO, April 7 (Reuters) - Toronto’s main stock index ended lower for a second straight session on Wednesday, pulled down in a broad selloff that was led by the energy group, while firm golds offset a portion the losses.

Nine of the index’s 10 main groups were lower, with the oil and gas group the top laggard, down 1.47 percent. The price of crude oil, an important Canadian export, broke a six-day rising streak to settle below $86 a barrel, prompting profit-taking. [O/R]

Shares of Suncor Energy Inc SU.TO, Canada’s largest oil company, lost 1.65 percent, while EnCana Corp ECA.TO fell 1.86 percent to C$32.25.

The heavyweight financial group retreated 0.72 percent with Royal Bank of Canada RY.TO, the country’s biggest lender, falling 1.04 percent to C$58.84. Toronto-Dominion Bank TD.TO dropped 1.08 percent to C$73.41.

The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE closed down 45.81 points, or 0.38 percent, at 12,110.90.

On the upside, gold miners were supported by the price of the precious metal, which rose above $1,150 an ounce, its highest level in nearly three months. This helped boost the materials group 1.52 percent, the index’s lone rising sector. [GOL/]

“That’s why the loss on the market is as contained as it is,” said Peter Chandler, senior vice-president at Canaccord Wealth Management in Waterloo, Ontario.

Barrick Gold ABX.TO gained 3.65 percent to C$40.88, while Goldcorp G.TO advanced 4.65 percent to C$40.06.

$1=$1.00 Canadian Reporting by Ka Yan Ng; editing by Peter Galloway

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