Teck Resources Ltd. (TCK/B) and First Quantum Minerals Ltd. dropped at least 1.6 percent as copper prices slumped to an eight-month low. Canadian Natural Resources Ltd. and BlackPearl Resources Inc. retreated more than 1 percent as crude fell for the first time in three days. Quebecor Inc. slipped 0.8 percent after Vice Chairman Pierre Karl Peladeau resigned from the company’s board to run as a Parti Quebecois candidate in next month’s provincial election.
The Standard & Poor’s/TSX Composite Index (SPTSX) added 6.91 points, or 0.1 percent, to 14,305.99 at 9:51 a.m. in Toronto and slipped as much as 0.2 percent. The index has gained about 5 percent this year.
China’s exports declined by 18.1 percent in February from a year earlier, the biggest drop since August 2009, according to a March 8 report from the General Administration of Customs. Economists surveyed by Bloomberg had forecast a median 7.5 percent increase.
The S&P GSCI Index (SPGSCI), which tracks prices for 24 commodities, retreated 1 percent for the first decline in three days.
To contact the reporter on this story: Eric Lam in Toronto at email@example.com
To contact the editors responsible for this story: Lynn Thomasson at firstname.lastname@example.org Michael P. Regan