Canada Stocks Fall as Commodities Slide on China, U.S. Data

Canadian stocks fell as commodity prices slid after data showed China’s manufacturing grew at a weaker pace in April and U.S. companies added fewer workers than forecast.

Cott Corp. (BCB) and Yamana Gold Inc. plunged at least 9 percent after both reported disappointing earnings. Premier Gold Mines Ltd. and New Gold Inc. slumped more than 3.3 percent as gold extended its worst monthly loss in more than a year. Loblaw Cos. (L) climbed 4.6 percent after posting better-than-forecast profit and raising its dividend.

The Standard & Poor’s/TSX Composite Index (SPTSX) fell 78.12 points, or 0.6 percent, to 12,378.38 at 9:54 a.m. in Toronto. The benchmark equity gauge has lost 0.5 percent this year.

The Standard & Poor’s GSCI gauge of 24 commodities fell 2 percent, as aluminum and oil declined almost 3 percent.

China’s manufacturing expanded at a weaker pace in April in a sign that the slowdown in the world’s No. 2 economy is extending into the second quarter. China is Canada’s second- biggest trading partner.

The U.S. added 119,000 workers in April, the smallest since September, following a revised 131,000 gain in March, figures from the Roseland, New Jersey-based ADP Research Institute showed today.

To contact the reporter on this story: Eric Lam in Toronto at

To contact the editor responsible for this story: Lynn Thomasson at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.