By Wallace Witkowski, MarketWatch
SAN FRANCISCO (MarketWatch) — Canadian stocks declined Thursday, weighed down by the mining, materials and industrials sector along with another day of weak commodities prices.
The S&P/TSX Composite Index closed down 0.3% led down by the heavily weighted S&P/TSX Capped Diversified Metals & Mining Index , which finished down 1.2%.
Shares of Barrick Gold Corp. /zigman2/quotes/209252292/delayed CA:ABX 0.00% finished down 1.5%, and Goldcorp Inc. /zigman2/quotes/225792379/delayed CA:G -1.76% fell 0.8%. Other big decliners included Kinross Gold Corp. /zigman2/quotes/200423011/delayed CA:K -0.12% , Agnico-Eagle Mines Ltd. /zigman2/quotes/205100210/delayed CA:AEM +0.14% and Iamgold Corp. /zigman2/quotes/206182143/delayed CA:IMG +0.29%
Gold for February delivery fell 0.6% to settle at $1,577.20 an ounce, the lowest price since July. Read more on gold.
The S&P/TSX Capped Materials Index /zigman2/quotes/210598474/delayed XX:TORGC195 -0.09% also declined 1.2%, with the S&P/TSX Capped Industrials Index /zigman2/quotes/210598464/delayed XX:TORGC193 +0.92% finishing down 1.1%.
U.S. jobless claims fall again
New filings for unemployment benefits fell last week to the lowest level since May 2008.
Shares of Bombardier Inc. /zigman2/quotes/207024414/delayed BDRBF +0.84% recovered from a 3% drop to finish up 0.1%, while shares of Canadian National Railway Co. /zigman2/quotes/203746923/delayed CA:CNR +1.37% fell 1.6% and shares of Canadian Pacific Railway Ltd. /zigman2/quotes/205690198/delayed CA:CP +1.21% declined 2.5%.
Crude oil for January delivery declined 1.1% to $93.87 a barrel, which didn’t fare well for energy stocks. Read more on oil.
The Canadian dollar rose against its U.S. counterpart /zigman2/quotes/210561978/realtime/sampled USDCAD +0.0962% with the greenback buying C$1.035 compared with C$1.038 late Wednesday.