* S&P/TSX index down 49.31 points, or 0.34 percent, at
14,376.24
* Gold miners jump 2.3 percent after Monday's big drop
TORONTO, July 21 (Reuters) - Canada's main stock index fell
on Tuesday despite a bounce back in resource stocks after
Monday's collapse, with heavy losses recorded among industrials
and telecom stocks.
A rebound in commodity prices helped drive up shares of
energy and mining companies, following recent selloffs. Shares
of gold miners tumbled in the previous session after the price
of gold slumped to a five-year low, with Chinese sellers getting
rid of the precious metal. GOL/ Barrick Gold Corp ABX.TO
dropped nearly 16 percent on Monday.
The gold-mining group climbed 2.3 percent on Tuesday, and
the energy sector added 0.4 percent.
The choppiness in resource shares has weighed on the broader
benchmark TSX index. It is down about 1 percent this year.
"The resource areas continue to trade at oversold levels,"
said Youssef Zohny, portfolio manager at StennerZohny Investment
Partners+ of Richardson GMP Ltd, which manages about C$28.3
billion in assets.
He said it might be an interesting time to consider looking
for attractively priced resource stocks.
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE closed down 49.31 points, or 0.34 percent, at
14,376.24. Seven of the 10 main sectors on the index were in the
red.
Among shares of energy producers, Canadian Natural Resources
Ltd CNQ.TO advanced 0.9 percent to C$31.76.
In the gold-mining sector, Barrick advanced 1 percent to
C$9.68 and Goldcorp Inc G.TO jumped 2 percent to C$17.07.
The industrials group shed 1.2 percent. Canadian Pacific
Railway Ltd CP.TO gave back 5.5 percent to C$194.97. The
company cut its full-year earnings outlook and said its chairman
resigned over a corporate governance dispute. ID:nL1N1010P6