Canada Stocks Fall as Mining Shares Drop on Stronger U.S. Dollar
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Canadian stocks fell for a second day, led by mining companies, as precious metal prices declined on speculation that an extension of U.S. tax cuts will boost growth and cut demand for alternative investments.
Goldcorp Inc., Ivanhoe Mines Ltd., Barrick Gold Corp. and Silver Wheaton Corp. were among the biggest contributors to the drop in the Standard & Poor’s/TSX Composite Index. Materials producers, the third-largest of the index’s 10 industries, fell 2 percent as a group, more than any other.