January 15, 2010 / 3:17 PM / 9 years ago

CANADA STOCKS-Weakening oil and gold prices pull TSX lower

 * Index down 79.56 points, or 0.67 percent, at 11,724.82
 * Weak oil, gold prices hit commodity shares  (Adds details, quote)
 By Jennifer Kwan
 TORONTO, Jan 15 (Reuters) - Toronto’s main stock index fell on Friday morning, pressured by limp oil and gold prices that hit big commodity issues such as Barrick Gold (ABX.TO).
 Barrick dropped 1.7 percent to C$40.68, while fellow miner Goldcorp (G.TO) was down 1.9 percent at C$40.74. Fertilizer producer Agrium AGU.TO sank 3.4 percent to C$64.63, while oil company Suncor Energy (SU.TO) dropped 0.8 percent to C$37.22.
 The price of oil fell below $79 a barrel in part on the lingering effects of disappointing U.S. economic data released in the previous session, while gold prices also fell. [O/R] [GOL/]
 “The commodities are a little weak so that’s certainly helping send Toronto down,” said Bruce Latimer, trader at Dundee Securities.
 At 9:52 a.m. (1452 GMT), the Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE was down 79.56 points, or 0.67 percent, at 11,724.82.
Heavyweight names on the upside included Potash Corp of Saskatchewan POT.TO, which rose 0.3 percent to C$118.51 after a brokerage upgrade.
 ($1=$1.03 Canadian)  (Reporting by Jennifer Kwan; editing by Peter Galloway)                                       

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