Toronto Stocks Fall as Some Earnings Disappoint

         By Satish Sarangarajan 

    TORONTO--Canadian stocks ended lower Wednesday, hurt by a selloff in commodities and disappointment over some first-quarter earnings reports.

    The S&P/TSX Composite index fell 135.21 points, or 1.1%, to 12321.29, and declines led advances 1071 to 581, preliminary data showed. Trading volume fell to 351.6 million shares from 381.9 million Tuesday.

    The blue-chip S&P/TSX 60 index lost 7.88 points, or 1.1%, to 702.83.

    The broad selloff, which was triggered by continued softness in Chinese manufacturing data, was exacerbated by a weaker-than-forecast reading on jobs in the U.S., Canada's biggest trading partner.

    Eight of the 10 sector groups closed in the red. The materials index slid 2.0%, as Yamana Gold tumbled 6.5% after it unveiled a 40% drop in first-quarter net profit.

    In the energy index, also down 2.0%, Talisman Energy lost 4.8% after swinging to a first-quarter loss.

    Tim Hortons, Canada's big coffee and doughnut chain, was among the few bright spots. Shares closed up 4.0% after sources said Highfields Capital Management, a U.S. hedge fund, is pushing the company to call off its U.S. expansion and boost shareholder returns through a buyback, among other options.

    Canadian smartphone maker Research In Motion drew little comfort from the BlackBerry Q10 going on sale in Toronto. The stock closed down 3.7% amid news that the U.S. Defense Department, a longtime BlackBerry customer, was close to approving the use of Apple and Samsung smartphones.

    Write to Satish Sarangarajan at