Canadian Stocks Decline, Led by Barrick, Suncor; Cognos Gains

Canadian stocks fell for a third time in four days as lower prices for gold, copper and crude oil dimmed raw-materials and energy producers' profit outlook.

Barrick Gold Corp. and Suncor Energy Inc. paced declines among commodity shares. Losses in the broader market were limited as Cognos Inc. gained on a $4.9 billion takeover offer from International Business Machines Corp.

The Standard & Poor's/TSX Composite Index fell 84.91, or 0.6 percent, to 13,784.91 as of 9:38 a.m. in Toronto. The benchmark had its biggest weekly loss in three months last week as technology stocks snapped a rally led by Research In Motion Ltd., and as concern that credit losses will widen drove down financial shares.

Gold fell in London as investors judged a five-week rally that took bullion to within 0.5 percent of a record was overdone. Copper fell to a two-month low and zinc dropped to the lowest in 19 months, in London.

Crude oil fell as signs of slowing growth in the U.S. economy dented confidence that prices will reach $100 a barrel.

Suncor Energy, the world's second-largest oil-sands miner, may decline C$1.47 to C$100.75. EnCana Corp., Canada's biggest natural- gas producer, fell C$1.22 to C$66.21.

Barrick Gold, the largest bullion miner, retreated C$1.06 to C$41.85. Smaller rival Goldcorp Inc. fell C$1.60 to C$31.22.

Teck Cominco Ltd., the second-largest zinc miner, retreated C$1.11 to C$43.53.

Cognos advanced C$4.58, or 9.2 percent, to C$54.61. IBM, the world's biggest computer-services company, agreed to buy Cognos, Canada's largest publicly traded software firm, for $58 a share, equivalent to C$55.54, according to a statement from Armonk, New York-based IBM.

Some Canadian financial shares advanced after the three biggest U.S. banks agreed on the structure of a fund to help revive the market for short-term debt.

Bank of Montreal, Canada's fourth-largest lender, gained 49 cents to C$57.01. Bank of Nova Scotia, the nation's third-biggest bank, rose 26 cents to C$50.32.
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