(RTTNews) - Canadian stocks turned back to the downside on Friday, continuing recent volatile movement, as commodities dragged the resource sectors into the red.

The S&P/TSX Composite Index is down 119.30 points or 1.07% to move at 10,951.95.

The gold index is down 2% while materials stocks are off 1.9%. Agnico-Eagle Mines (AEM.TO) has plunged 5%, New Gold (NGD.TO) is down 3.6% and Yamana (YRI.TO) has lost 3.5%.

Centerra Gold (CG.TO) is down 0.4% after the company reported its third-quarter net earnings were US$20.2 million, 20% higher than US$16.9 million in the previous year. Earnings per common share for the recent quarter grew 15% to US$0.09 from US$0.08 a year ago.

Eldorado (ELD.TO) has dropped 2.1%, although the company reported its third-quarter net income was US$30.15 million or US$0.08 per share, compared with US$17.04 million or US$0.05 per share last year.

Mining stocks are down 1.9%, giving back some of yesterday’s gains. HudBay (HBM.TO) has lost 3.1% and Inmet (IMN.TO) is down 2.1%.

Financials are down 1.3%. Toronto-Dominion (TD.TO) has dropped 2.1%, Bank of Montreal (BMO.TO) is down 1.7% and CIBC (CM.TO) has dropped 1.6%.

Fairfax Financial (FFH.TO) has added 3.4% after the company reported its net earnings increased to US$562.4 million, or US$30.88 per share, from US467.6 million, or US$25.27 per share in the year-ago quarter.

Energy stocks have also lost 1.3%. Canadian Natural Resources (CNQ.TO) has dropped 2.4%, Suncor (SU.TO) is down 1.6% and Canadian Oil Sands (COS.UN.TO) has dropped 1.5%.

Imperial Oil (IMO.TO) has added nearly 1% after the company reported its third quarter profit fell to C$547 million from C$1.38 billion in the year-ago period. On a per share basis, net income decreased to C$0.64 from C$1.57. Operating revenues declined to C$5.54 billion from C$9.47 billion.

Tim Hortons (THI.TO) has dropped 1.6% after the company announced third quarter net income attributable to Tim Hortons of C$61.18 million or C$0.34 per share, compared to C$78.76 million or C$0.43 per share last year.

Domtar Corp. (UFS.TO) has surged 12.4% after the company reported net earnings of US$183 million or US$4.24 per share for the third quarter, compared to US$43 million or US$1.00 per share for the third quarter of 2008.

GLG Life Tech Corp. (GLG.TO) has added 6.1% after the company said its third-quarter net income after income taxes and non-controlling interests was C$1.39 million compared with a loss of C$0.95 million in the comparable period. The company reported an earnings per share of C$0.02 versus a loss per share of C$0.01 for the quarter.

Cogeco Cable (CCA.TO) has dropped 4.3% after the company said its fourth-quarter net income increased to C$46.57 million or C$0.96 per share from C$31.86 million or C$0.65 per share in the prior year period.

On the economic front, real gross domestic product decreased 0.1% in August after being unchanged in July, according to data released Friday morning by Statistics Canada.

Economists were expecting Canada’s economy to grow a modest 0.1%, as the nation attempts to emerge from the worst global economic downturn in decades.

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Posted in Categories: Canada, Releases, Stocks, USA.

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