December 23, 2010 / 3:54 PM / 8 years ago

CANADA STOCKS-TSX slips in thin trade, resources lead fall

 * TSX slips 0.33 percent to 13,336.62
 * Broad weakness, led by resources
 * Economy resumes growth in Oct but weaker than expected  (Adds details)
 TORONTO, Dec 23 (Reuters) - Toronto’s main stock market index fell broadly on Thursday morning, pulled down by weakness in resource issues and a slightly lower-than-expected reading on Canadian economic growth.
 The economy resumed growing in October after a brief downturn in September, rising by 0.2 percent for the month. But that was below the 0.3 percent gain forecast by analysts polled by Reuters. [ID:nN23134993]
 “There’s some disappointing economic numbers today in Canada. It’s showing that we’re definitely slowing down,” said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier.
 “Commodities have lifted but I’m not sure it’s going to lift that much more by the end of the year.”
 At 10:37 a.m. (1537 GMT), the Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE was 44.08 points, or 0.33 percent, lower at 13,336.62. All 10 of the index’s main sectors fell.
 Resources were among key drags with the price of oil little changed above $90 a barrel and softer copper and gold prices. The materials group was down 0.2 percent, while oil and gas slipped 0.46 percent.
 Canadian Natural Resources (CNQ.TO) lost 0.9 percent to C$43.98, while Teck Resources TCKb.TO was down more than 1 percent at C$57.74.
 Other key decliners included Canadian Imperial Bank of Commerce (CM.TO), down 0.47 percent at C$78.41, and Canadian National Railway (CNR.TO), off 1.04 percent at C$66.56.
 Volume was very light due to holiday-thinned trading with about 76.5 million shares changing hands in early trade, while the trading range has also shrunk. Volume has trended lower since the beginning of this week, with about 151 million shares traded on Wednesday.
 ($1=$1.01 Canadian)  (Reporting by Ka Yan Ng; editing by Peter Galloway)                                      

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