CANADA STOCKS-China data, energy shares pull TSX lower

Fri, 03 Jan - 2:13am
    * TSX falls 53.87 points, or 0.40 percent, to 13,567.68 
    * Nine of 10 main index sectors decline 
    * Bombardier up after winning jet order 
 
    By John Tilak 
    TORONTO, Jan 2 (Reuters) - Canada's main stock index slipped 
on Thursday as signs of a slowdown in China's manufacturing 
industry were a drag on oil prices and shares of energy 
producers. 
    Official and private manufacturing surveys showed Chinese 
factory activity moderated in December.    
    Data indicating that U.S. manufacturing grew in December at 
its fastest pace in 11 months failed to give investors a boost. 
   
    The export-driven Canadian market eased on the first trading 
day of 2014, having recorded a 9.6 percent gain last year. 
    "Assuming that the economic expansion continues in North 
America and Europe remains relatively stable, we're going to see 
the possibility of a better year for Canadian stocks," said 
Michael Sprung, president of Sprung Investment Management. 
    He said investors were having a knee-jerk reaction to the 
Chinese data. 
    "The markets are just overly sensitive and overly reactive 
to these short-term snapshots," he added, pointing out that 
economic indicators from the world's second-biggest economy have 
been turning positive in recent months. 
    The Toronto Stock Exchange's S&P/TSX composite index 
   was down 53.87 points, or 0.40 percent, at 13,567.68. 
    Nine of the 10 main sectors on the index were in the red. 
    With the price of U.S. crude oil shedding almost 2 percent 
  , energy shares dropped. 
    Suncor Energy Inc    gave back 1.1 percent to C$36.82, 
and Canadian Natural Resources Ltd    lost 1.9 percent to 
C$35.26. 
    Financials, the index's most heavily weighted sector, 
declined 0.8 percent. Toronto Dominion Bank    slipped 0.8 
percent to C$98.48, and Royal Bank of Canada    was down 
0.4 percent at C$71.11. 
    But the materials sector added 1.3 percent, helped by 3.2 
percent jump in shares of gold producers. The group received 
support from a higher bullion price.  GOL/  
    Goldcorp Inc    jumped 4.1 percent to C$23.98, and 
Barrick Gold Corp    gained 3.5 percent to C$19.36. 
    Shares of Bombardier Inc    edged up to C$4.62 after 
the company said late on Tuesday that it received a firm order 
from an undisclosed customer for 38 business aircraft in a deal 
valued at about $2.2 billion.    
     
 
 (Editing by Nick Zieminski) 
 ((john.tilak@thomsonreuters.com)(1-416-687-7918)(Reuters 
Messaging: john.tilak.reuters.com@reuters.net)) 
  
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Keywords: MARKETS CANADA/STOCKS   
     
URN: 
urn:newsml:reuters.com:20140102:nL2N0KC0JV:3
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