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July 5, 2012, 10:50 a.m. EDT

Canada stocks fall; Bombardier up on CSR deal

SAN FRANCISCO (MarketWatch) -- Toronto's benchmark equities index slipped 42 points, or 0.4%, to 11,871 Thursday, tracking U.S. markets following a weak Institute for Supply Management report. A 1% loss in the materials sector (TORONTO:XX:TORGC195) and 0.46% decline in metals and mining stocks pressured the market. Most gold miners struggled, with shares of Kinross Gold Corp. (TSE:CA:K) slipping 3.7% and Novagold Resources (TSE:CA:NG) falling 3.8%. In corporate news, plane and train manufacturer Bombardier (TSE:CA:BBD.B) announced Thursday a technology licence agreement with CSR Puzhen, a subsidiary of China South Locomotive & Rolling Stock Corporation Ltd. Bombardier's stock added as much as 1.7% following the news. The greenback rose against its Canadian counterpart (XTUP:USDCAD) , with one U.S. dollar buying C$1.0147 vs. C$1.0133 Wednesday.

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Canada stocks down on central bank action

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