Canadian stocks fall

Toronto, March 19 (IANS) Canada’s main stock market in Toronto faded down as resources pulled back on profit-taking after a two-day rally while data showed inflation slowed down in February.

The Toronto Stock Exchange’s benchmark Standard & Poor’s/TSX Composite Index shed 124.23 points, or 0.91 percent, to close at 13,497.07 points on Friday, Xinhua news agency reported.

Seven of the TSX index’s eight main sub-sectors went lower.

Leading a broad downturn, TSX energy and mining groups gave away 1.37 percent and 1.14 percent respectively, offsetting modest gains for industrial stocks.

Influential energy downers included Athabasca Oil Corporation with a 2.48 percent loss, Enbridge Inc. with a 2.13 percent drop, and Suncor Energy Inc., which fell 1.53 percent.

Pacific Exploration & Production Corporation nosedived 24.39 percent to 0.62 Canadian dollar ($0.48) a share.

The Canadian currency, paralleling the course of oil, retraced from its highest level of the year but remained near a three-month high.

By closing, the Canadian dollar was traded lower at $0.7670, compared with Thursday’s closing rate of $0.7699.

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