Bloomberg News

Canadian Stocks Decline as Energy, Financial Companies Slump

January 07, 2013

Canadian stocks fell, after the biggest gain since November for the benchmark equities index, as energy and financial companies contributing most to losses.

Canadian Natural Resources Ltd. (CNQ) dropped 1.5 percent. Royal Bank of Canada and Toronto-Dominion Bank lost more than 0.8 percent. Air Canada (AC/B) gained 5.1 percent after reporting record levels in the average number of seats filled in its planes for 2012, the airliner said.

The Standard & Poor’s/TSX Composite Index (SPTSX) fell 84.26 points, or 0.7 percent, to 12,456.55 at 10:15 a.m. in Toronto. The benchmark gauge has risen 0.2 percent this year, trailing every developed market in the world. It jumped 1.8 percent last week, the most since Nov. 23.

To contact the reporter on this story: Eric Lam in Toronto at elam87@bloomberg.net

To contact the editor responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net


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