By Whitney Kisling Nov. 20 (Bloomberg) -- Canadian stocks fell for a second day, as oil and gold producers slipped on a strengthening U.S. dollar and Sun Life Financial Inc. said it may need to make acquisitions. Sun Life, the nation’s third-largest insurer, fell 0.8 percent to C$28.75 after saying it needs to make a purchase in the U.S. life-insurance market if it wants to expand there significantly. Suncor Energy Inc., Canada’s largest energy company, slid 0.9 percent to C$37.92 as the price of oil declined. Barrick Gold Corp. lost 1.5 percent to C$46.63 after bullion dropped. The Standard & Poor’s/TSX Composite Index fell 74.69 points, or 0.6 percent, to 11,525.61 at 10:19 a.m. in Toronto. The nation’s benchmark index, which gets three-quarters of its value from energy, mining and finance shares, had risen 6.3 percent this month through yesterday as prices of gold, copper and oil have advanced on a dropping U.S. dollar. Crude oil fell for a second day, sliding as much as 1.6 percent. The contracts for December delivery expire today. Oil dropped 2.7 percent yesterday on a gain in the U.S. dollar and concern the rally in commodities and equities has outpaced the prospects for economic growth. Canadian Natural Resources Ltd., the nation’s third-largest energy company by market value, lost 1 percent to C$70.38. Goldcorp Inc., Canada’s second-largest producer of the metal after Barrick, fell 1.3 percent to C$46.17. Demand for gold as an alternative investment receded as the U.S. dollar gained against 13 of the 16 major currencies. Kinross Gold Corp. slipped 1.8 percent to C$29.33. Nine of the 10 sectors in the Canadian benchmark index retreated, with materials declining 1.3 percent and energy stocks losing 0.7 percent. Financial stocks have lost 3.6 percent so far this quarter. To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net.

Source