July 6, 2011 / 8:40 PM / 8 years ago

CANADA STOCKS-TSX's 6-day streak of rises ends as oils slide

 * TSX slides 0.17 pct to finish at 13,403.10
 * Five of 10 sectors fall, led by 1.1 pct drop in energy  (Updates to close)
 TORONTO, July 6 (Reuters) - Toronto’s main stock index ended a six-day streak of gains on Wednesday as an interest rate hike in China and Europe’s debt woes pushed oil and gas shares sharply lower.
 The Chinese rate hike, the third this year, pushed down oil and other commodity prices on fears of reduced demand and that weighed heavily on Toronto’s energy sector. [O/R]
 Influential index decliners were led by Cenovus Energy (CVE.TO), down 2.6 percent at C$35.55, while Canadian Natural Resources (CNQ.TO) dropped more than 0.9 percent to C$41.13.
 The decline in oil and gas shares was offset by a flight to safe-haven gold and to gold and silver mining shares, spurred by ongoing concern about the euro zone debt crisis after Portugal’s credit was downgraded. [GOL/]
 “If you’re in golds, you’re pretty happy with the way things are going. It’s a spillover from the Portugal downgrade,” said Sal Masionis, stockbroker at Brant Securities.
 Top advancers were mostly precious metal miners, led by Silver Wheaton SLW.TO, up 5.5 percent at C$35.02, while Barrick Gold (ABX.TO) followed with a 0.84 percent rise to C$44.64.
 The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE fell 22.20 points, or 0.17 percent, to finish at 13,403.10. Half of the index’s 10 main groups slid, led down by a 1.1 percent drop in the energy sector.
 ($1=$0.97 Canadian)  (Reporting by Ka Yan Ng; editing by Peter Galloway)                                        

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