CANADA STOCKS-TSX falls to 1-1/2-month low as Dollarama stumbles
* TSX falls 10.42 points, or 0.09 percent, to 12,213.15 * Seven of 10 main index sectors decline * Gold-mining shares climb with bullion price * Dollarama sheds 3.8 percent after results By John Tilak TORONTO, June 12 (Reuters) - Canada's main stock index dropped to its lowest level in more than six weeks on Wednesday as shares of Dollarama Inc fell sharply after the retailer posted quarterly results that disappointed the market, offsetting gains in gold miners. The dollar store operator gave back 3.8 percent after it reported weaker-than-expected first-quarter earnings, hurt by poor weather and the cost of opening new stores. Wednesday's drop on the resource-heavy Canadian benchmark index extended the steep losses of the previous session as concerns about whether the U.S. Federal Reserve will roll back its stimulus program failed to go away. The index has declined in eight of the last nine sessions and has sharply lagged U.S. and other major stock markets this year. "The market seems to be very vulnerable," said David Cockfield, managing director and portfolio manager at Northland Wealth Management. "My concern is that we may be seeing significant money moving out of Canada into the United States, one of the reasons why we may be underperforming." The Toronto Stock Exchange's S&P/TSX composite index was down 10.42 points, or 0.09 percent, at 12,213.15, after slipping as low as 12,191.39, its lowest point since April 26. Seven of the 10 main index sectors were in the red. Financials, the index's most heavily weighted sector, gave back 0.2 percent. In the group, Toronto-Dominion Bank was down 0.3 percent at C$81.39. Telecoms shares slipped 1.3 percent, and energy stocks fell 0.4 percent. But a rise in the bullion price boosted shares of gold producers and helped the materials group climb 0.8 percent. Miner Barrick Gold Corp added 2.2 percent to C$20.42 and had the biggest positive influence on the market.
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