Canada Stocks Drop, Led by Suncor Energy, Potash, Goldcorp

By John Kipphoff

Sept. 2 (Bloomberg) -- Canadian stocks fell for the first time in five days, as commodity producers including Suncor Energy Inc. and Potash Corp. of Saskatchewan Inc. slid along with retreating oil, metals and grain prices.

The Standard & Poor's/TSX Composite Index dropped 1.6 percent to 13,550.98 at 9:45 a.m. in Toronto after rising in the previous four sessions.

Canada's main equity benchmark, which derives three- quarters of its value from energy, materials and financial stocks, advanced 3.2 percent in August, its first monthly increase since May.

Suncor Energy, the world's second-largest producer of crude from tar sands, dropped 7.5 percent to C$56.21. Canadian Natural Resources Ltd., the nation's fourth-largest energy company by market value, fell 5.2 percent to C$85.89.

Potash, the world's largest producer of the crop nutrient, slid 4.6 percent to C$176.23.

Goldcorp, the second-biggest bullion mining company by market value, slumped 6.7 percent to C$33.67.

Research In Motion Ltd., the maker of The BlackBerry e-mail phone, rose 2.6 percent to C$132.72, gaining for the first time in three days.

To contact the reporter on this story: John Kipphoff in Montreal at jkipphoff@bloomberg.net.