* TSX ends down 73.42 points, or 0.6 pct, at 12,111.63
* Sluggish U.S. "fiscal cliff" negotiations in focus
* Greek deal panned for lack of detail
* Bombardier jumps 8 pct after signing $7.8 bln plane deal
By Alastair Sharp
TORONTO, Nov 27 Canadian stocks fell on Tuesday,
weighed down by losses in heavyweight gold-mining and energy
shares as bullion and oil dipped and investors brushed off a
Greek debt deal, focusing instead on sluggish talks to avoid a
looming U.S. fiscal crisis.
The U.S. Congress advanced by inches toward compromise on
taxes and spending to try to avert the "fiscal cliff" that some
fear will spur a recession but a firm deal still seemed miles
away despite growing pressure from business interests for
"This is going to continue ad nauseam. Fiscal cliff is the
theme of the day," said Levente Mady, a senior portfolio manager
at PI Financial Corp in Vancouver.
Initial optimism about a Greek debt-reduction deal gave way
to worries about the lack of detail in the plan, hurting the
"Obviously we had that bailout agreement in Greece and the
euro is less than impressed with that package, so things are a
little bit under pressure as a result of those two items," Mady
The dual concerns weighed on oil and gold prices, and that
pushed the shares of some of Canada's biggest resource companies
lower. Miner Goldcorp Inc was the biggest
drag on the index, falling 4.5 percent to C$38.95.
MINERS NOT PRIVY TO GOLD'S RISE
Other heavily weighted resource stocks also slipped. Suncor
Energy Inc lost 1.3 percent to C$32.89, and miner
Barrick Gold Corp and oil company Canadian Natural
Resources Ltd both shed 1.6 percent, to C$34.40 and
"People generally feel that gold is going higher, but the
stocks suffer on an ongoing basis because ... it's so easy to
buy the commodity," said Paul Harris, a portfolio manager at
Avenue Investment Management, which manages $280 million.
After 12 hours of talks at their third meeting in as many
weeks, Greece's international lenders agreed on a package of
measures to reduce the country's debt by 40 billion euros.
"Maybe some people were expecting more positive news on
Greece and so they sold off after it happened," Harris said.
The Toronto Stock Exchange's S&P/TSX composite index
ended down 73.42 points, or 0.6 percent, at 12,111.63.
Bombardier Inc jumped 8 percent to C$3.37 after
the planemaker signed a $7.8 billion deal to supply business
jets to a private Swiss charter operator.
BlackBerry maker Research In Motion Ltd
slid 10.7 percent to C$10.70 after rising sharply since
mid-month on optimism over its upcoming new devices. A research
firm said RIM's market share had fallen further in all but one
of the markets the firm surveyed.