Canada Stocks Fall As Declining Phone Shares Offset Gold Rally Canadian stocks backslide, after a two-day surge, as retreats among telephone and consumer-staples firms offset a rally among raw-material shares amid the first advance in commodities prices in five days. Torex Gold Resources Inc. and Yamana Gold Inc. bolstered at least 3 percent as the price of the metal cut down three days of declines. Teck Resources Ltd., Canada`s biggest diversified miner, increased 1.4 percent as base metals prices hike. Telus Corp. and BCE Inc. slide down more than 1 percent as phone stocks stepped back for the first time in nine days. BlackBerry Ltd. backed 5.8 percent down as investors continued to digest a possible $4.7 billion takeover by Fairfax Financial Holdings Ltd. The Standard & Poor`s/TSX Composite Index missed 12.18 points, or 0.1 percent, to 12,836.71 at 4 p.m. in Toronto. The benchmark Canadian equity gauge has spiked 5.8 percent higher this quarter and is up 3.2 percent in 2013.
Posted on: Fri, 27 Sep 2013 03:27:37 +0000