Canadian Stocks Drop, Led by Barrick. Teck, on Signs of Slower U.S. Growth

(Bloomberg) -- Canadian stocks dropped a fourth
straight day, led by metals producers Teck Cominco Ltd. and Barrick
Gold Corp., as falling U.S. home sales heightened concern that
demand for raw materials may cool.

Home resales fell for a fourth straight month in June as the
U.S. housing market remained in the worst slump in 16 years,
according to the National Association of Realtors. Yesterday,
Countrywide Financial Corp., the biggest U.S. mortgage lender, cut
its profit forecast as a growing number of homeowners fell behind
on home-loan payments.


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