(Adds portfolio manager quote, updates prices)
* TSX down 70.99 points, or 0.53 percent, at 13,411.63
* Eight of TSX's 10 main groups lower
By Fergal Smith
TORONTO, Nov 10 (Reuters) - Canada's main stock index fell
to a fresh five-week low on Tuesday, with broad-based losses
paced by the materials group after weak Chinese inflation data
added to concern about the outlook for global growth.
"It has a lot to do with the news out of China," said Kevin
Headland, director capital markets and strategy at Manulife
Asset Management, adding that they expect that to be the story
for some time yet as China transitions "towards domestic
consumption."
The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE ended down 70.99 points, or 0.53 percent, at
13,411.63, having hit a fresh five-week low at 13,336.90.
Eight of the index's 10 main groups finished lower.
The materials group tumbled 2.1 percent, including a greater
than 3 percent loss for Potash Corp POT.TO .
"The sector stance on a global growth scare is
anti-cyclical, specifically anti-commodity," said Paul Taylor,
Chief Investment Officer, Fundamental Equities, BMO Asset
Management Inc.
The energy group retreated 0.3 percent despite a bounce in
crude oil.
A report by the U.S. IEA said oil was unlikely to return to
$80 a barrel before the end of the decade, despite cuts in
investment, as annual demand growth struggles to top 1 million
barrels per day. urn:newsml:reuters.com:*:nL3N1351SC
The financials group was nearly unchanged.
Bombardier Inc BBDb.TO fell 3.3 percent after new Canadian
Prime Minister Justin Trudeau said any federal aid to the
struggling Quebec aircraft maker must be based on a strong
business case. urn:newsml:reuters.com:*:nL1N1351HB
In addition, a top executive at Brazil's Embraer expressed
concern about Quebec's decision to pump $1 billion into
Bombardier. urn:newsml:reuters.com:*:nL8N1355BV
Quebec said on Oct. 29 it would invest in the company's
CSeries jets in return for a near 50 percent stake in the
project. urn:newsml:reuters.com:*:nL3N12T3Z5C
Gaming company Amaya Inc AYA.TO plunged more than 32
percent after cutting its 2015 forecast due to the strong U.S.
dollar, financial headwinds in Portugal and Greece, and
postponed launch of its sportsbook. urn:newsml:reuters.com:*:nL3N1354N0
Valeant Pharmaceuticals (N:VRX) Inc VRX.TO fell 2.2 percent,
although it pared some losses, after it said its dermatology
business would be hurt in the short term as it moves rapidly to
sever ties with a controversial specialty pharmacy. urn:newsml:reuters.com:*:nL1N135104
Brookfield Asset Management BAMa.TO rose 2.8 percent after
its offer for Australian stevedoring and rail company Asciano
Ltd was narrowly eclipsed by a rival offer from Qube Holdings
Ltd. urn:newsml:reuters.com:*:nL3N13467P
U.S. crude CLc1 prices settled at $44.21 a barrel, up 0.78
percent, while Brent crude LCOc1 added 0.4 percent to
$47.37. O/R
Gold futures GCc1 were unchanged at $1,091.2 an ounce.
GOL/
Copper prices CMCU3 declined 0.8 percent to $4,925.65 a
tonne. MET/L