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07-19-2010, 05:14 PM #1
Canada Stocks Fall as Gold Shares Drop
Canada Stocks Fall as Gold Shares Drop on Euro, Financials Slip
July 19, 2010, 4:40 PM EDT
(Bloomberg) -- Canadian stocks fell for a second day, led by gold producers and financial shares, as futures for the precious metal dropped and a measure of U.S. homebuilders’ confidence fell more than forecast.
Goldcorp Inc., Canada’s second-largest producer, declined 1.2 percent as the metal sank to an eight-week low on a stronger euro. Bombardier Inc., the world’s third-biggest civil-aircraft maker, slid 6.5 percent as the company failed to announce any orders for its new CSeries jet at the start of the Farnborough International Airshow. Manulife Financial Corp., Canada’s largest insurer, slumped 3.4 percent on an analyst downgrade.
The Standard & Poor’s/TSX Composite Index decreased 26.18 points, or 0.2 percent, to 11,543.47.
“Sentiment continues to be weak,â€NO AMNESTY
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