CANADA STOCKS-TSX slips as trade data pulls commodities lower

Mon Mar 10, 2014 10:54am EDT

* TSX down 17.31 points, or 0.12 percent, at 14,281.77
    * Six of 10 main index sectors decline
    * Prices of some commodities drop
    * RBC slips after court decision

    By John Tilak
    TORONTO, March 10 (Reuters) - Canada's main stock edged
lower on Monday after softer-than-expected economic data from
China weighed on commodity prices and natural resource shares.
    Figures released over the weekend showed an unexpected drop
in Chinese exports in February, renewing concerns about a
slowdown in the world's second-largest economy. 
    The resource-sensitive Toronto market felt the impact of the
weakness in China, a major importer of commodities, as prices of
gold and oil were in the red.
    China "is a concern, but is it a new concern? I'd say no,"
said Ian Nakamoto, director of research at MacDougall,
MacDougall & MacTier. "The question is, how much is it going to
slow down?"
    He added that profit-taking was also weighing on the TSX,
which is up nearly 5 percent this year. "We've had a good run
for a while," he said.
    The Toronto Stock Exchange's S&P/TSX composite index
 was down 17.31 points, or 0.12 percent, at 14,281.77.
Six of the 10 main sectors on the index were lower. 
    Gold-mining shares gave back 1 percent, with Barrick Gold
Corp losing 1.4 percent to C$21.78 and Goldcorp Inc
 slipping 0.9 percent to C$29.69.
    Energy producers were hit by lower oil prices. Canadian
Natural Resources Ltd dropped 1.4 percent to C$41.02.
    Financials, the index's most heavily weighted sector, added
0.3 percent. Bank of Nova Scotia gained 0.4 percent to
C$63.87. 
    Royal Bank of Canada was down 0.1 percent after a
decision by a Delaware judge who said that the lender should be
held liable to former shareholders of Rural/Metro Corp because
it failed to disclose conflicts of interest that tainted the
$438 million buyout of the ambulance operator.
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