CANADA STOCKS-TSX slips as golds, Cameco drag

Mon Feb 11, 2013 10:29am EST

* TSX down 19.28 points, or 0.15 percent, at 12,781.95
    * Weaker resource shares offset firmer financials
    * Cameco Corp down more than 3 percent after results

    By Claire Sibonney
    TORONTO, Feb 11 (Reuters) - Canada's main stock index fell
on Monday, dragged down by weaker gold mining shares and Cameco
Corp, after the world's biggest publicly traded uranium
producer reported a sharply lower quarterly profit.
    Gold miners were among the heaviest laggards on the index as
commodity prices fell. Gold extended earlier losses to one-month
lows after recent technical support broke down. 
    Goldcorp was the most influential decliner, down 1.1
percent to C$35.82, while Barrick Gold lost 0.8 percent
to C$32.57.
    Cameco knocked off 3.1 percent to C$21.05 after the company
announced it took a C$168 million ($168 million) write-down on
an Australian exploration project, and said the current quarter
would likely produce weaker earnings as well. 
    "We used to own Cameco ... my problem with Cameco is that I
think the future of nuclear energy has been very much cast in
doubt by fracking and tight oil," said David Baskin, president
of Baskin Financial in Toronto.
    "Because there's so much petroleum-based energy available
now than people thought say five years ago, and because of what
happened in Fukushima in Japan, I think that the whole future of
nuclear energy is very much up in the air."
    At 10:14 a.m. (1514 GMT) the Toronto Stock Exchange's
S&P/TSX composite index was down 19.28 points, or 0.15
percent, at 12,781.95. Seven of the 10 main sectors were in
negative territory, including energy shares, down 0.4 percent.
    Stronger financial shares, up 0.2 percent, helped to stem
the losses.
    Royal Bank of Canada, the country's largest lender,
was the top gainer, rising 0.5 percent to C$63.22.
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