CANADA STOCKS-TSX tracks global markets lower in broad retreat

Tue May 12, 2015 5:14pm EDT
 
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(Adds comment; updates prices to close)

* TSX ends down 109.49 points, or 0.72 pct, at 15,043.15

* Bond selloff, Greece and China worries weigh on stocks

By Alastair Sharp

TORONTO, May 12 (Reuters) - Canada's main stock index fell sharply on Tuesday, tracking global equities, as volatility in bond markets and other worries rattled investors worldwide.

The heavily weighted energy sector slipped despite a 3 percent gain in the price of crude, itself mostly a function of a weaker U.S. dollar.

Government bonds sold off again, with benchmark 10-year U.S. Treasuries yields at their highest since mid-November, and German 10-year yields rising even more.

The bond moves added to investor anxiety about Greece's debt and to concerns over economic growth in China, which cut its interest rate for the third time in six months over the weekend.

"There's a lot of uncertainty and until we get through that period, we're just going to have to suffer this," said RKH Investments Chief Operating Officer Rick Hutcheon.   Continued...