Canadian stocks fall for a fifth session as gold prices retreat

Canadian Stocks fell for a fifth session as gold prices retreated. The S&P/TSX Composite Index closed 98.74 points, or 0.84 percent lower at 11,666.77 on Wednesday.

Ten out of the twelve sectors on the Toronto Stock Exchange (TSX) declined with the index measuring the materials sector losing 3.16 percent and the index measuring the diversified metals &mining sector dropping 2.43 percent.

Gold for July delivery slipped 1.88 percent to 1,191.80 U.S. dollars an ounce on the New York Mercantile Exchange on Wednesday.

Barrick Gold Corp., the world's largest bullion producer, fell 3.56 percent. Centerra Gold Inc. reduced 2.29 percent. Iamgold Corp. decreased 4.55 percent.

Teck Resources Ltd., Canada's largest base metals producer, retreated 2.54 percent. Canadian Natural Resources Ltd. lost 1.67 percent. Taseko Mines Ltd. dropped 3.44 percent.

Retailer Sears Canada Inc. was one of the few bright spots on the TSX, whose shares climbed 6.48 percent after saying it would buy back up to 5.4 million shares.


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