Canadian Stocks Fall as Gold Declines on China Lending Rates
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Canadian stocks fell the most in eight weeks as gold producers declined after China unexpectedly raised lending rates and the Bank of Canada said it would stop lifting interest rates in a weakening economy.
Barrick Gold Corp., the world’s largest gold producer, Kinross Gold Corp. and Goldcorp Inc. fell at least 2.6 percent as China increased its lending and deposit rates after inflation accelerated, curbing demand for the metal as an alternative investment. Research In Motion Ltd. dropped 0.9 percent after rival Apple Inc.’s profit forecast fell short of analysts’ estimates.