* TSX ends down 1%
* Materials group falls 4.2% as gold slides
* Canada’s unemployment rate rises to 6.2%
* Real estate ends 1.6% lower
June 7 (Reuters) – Canada’s main stock index fell 1% on
Friday as a jump in the U.S. dollar following the release of
stronger-than-expected U.S. jobs data pressured metal mining
stocks, while investors braced for increased volatility in the
months ahead.
The Toronto Stock Exchange’s S&P/TSX composite index
ended down 222.10 points at 22,007.00. For the week,
the index lost 1.2%, its third consecutive weekly decline.
The materials group, which includes metal miners
and fertilizer companies was down 4.2% as the price of gold
fell 3.7% and copper hit a one-month low.
“Gold is sensitive to the U.S. dollar and real interest
rates,” said Joseph Abramson, co-chief investment officer at
Northland Wealth Management.
…
