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Canadian Stocks Fall for Sixth Day on European Concerns

Canadian stocks fell for a sixth day after material and energy producers declined amid concern Europe’s debt crisis may worsen, potentially curbing demand, following an inconclusive Greek election.

Barrick Gold Corp. (ABX), the world’s largest producer of the metal, decreased 1.4 percent. Potash Corp. of Saskatchewan Inc., the biggest fertilizer company, dropped 1.8 percent. Suncor Energy Inc. (SU), Canada’s largest oil and gas producer, sank 2.5 percent. Canadian Natural Resources Ltd. (CNQ), the country’s third- biggest energy company, declined 1.4 percent.

The Standard & Poor’s/TSX Composite Index (SPTSX) decreased 127.92 points, or 1.1 percent, to 11,576.82 at 9:55 a.m. in Toronto. The six-day dip is the benchmark gauge’s longest since June 2011.

Canadian stocks are extending their slump following a decline last week, when a U.S. industry report showed employers added fewer jobs than forecast last month and commodity prices dropped. Energy and mining shares account for 44 percent of Canadian stocks by market value, compared with 20 percent in the U.S.

To contact the reporter on this story: Joseph Ciolli in New York at jciolli@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

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