Canada stocks fall after financials erase gain

Canadian stocks declined as financial shares erased an earlier gain and gold producers fell.

The Standard & Poor’s/TSX Composite Index slipped 14.69 points, or 0.1 percent, to 12,525.11 at 2:48 p.m. in Toronto, after rising as much as 0.5 percent earlier.

Royal Bank of Canada fell 0.9 percent to C$50.93, to lead financial stocks lower. The group had gained 1.1 percent earlier. Barrick Gold Corp., the world’s biggest producer of the metal, slumped 1.1 percent to C$49.23 as gold futures retreated a second day.