BS: Canada Stocks Fall as Gold, Oil, Copper Drop on Higher Dollar
By Matt Walcoff
March 9 (Bloomberg) -- Canadian stocks fell for a second day as the U.S. dollar gained against most other major currencies, lowering prices of commodities including gold, oil and copper.
Barrick Gold Corp., the world’s largest producer of the metal, dropped 1.2 percent as gold futures declined more than 0.8 percent for a second day. Suncor Energy Inc., Canada’s biggest oil and gas company, lost 0.8 percent as crude retreated the most in eight days. Bombardier Inc., the world’s third- largest maker of commercial airplanes, decreased 2 percent on an analyst downgrade.
The Standard & Poor’s/TSX Composite Index slipped 38.63 points, or 0.3 percent, to 11,925.21 at 9:31 a.m. in Toronto.
The S&P/TSX gained 7.6 percent from Feb. 8 to yesterday as concern over budget deficits in Europe ebbed and the U.S. dollar’s rally stalled. The greenback remains up 8.5 percent against a basket of world currencies since Dec. 1.
--Editor: Stephen Kleege
To contact the reporter on this story: Matt Walcoff in Toronto at mwalcoff1@bloomberg.net
To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net
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