CANADA STOCKS-TSX stumbles more than 1 percent as banks, energy lead losses

Mon Jun 8, 2015 11:19am EDT
 
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(Updates market prices, addds analyst comment)))

* TSX down 160.44 points, or 1.07 percent, at 14,796.72

* All 10 of the index's main sectors were lower

By Solarina Ho

TORONTO, June 8 (Reuters) - Canada's main stock index fell for the third straight session, giving back more than 1 percent on Monday, with across-the-board declines led by resource and financial stocks.

With little domestic news to drive direction, investors appeared to take their cues from global markets.

German government bonds weighed on European stock markets, while concerns over a slowdown in China, the world's second largest economy, pressured Asian shares earlier.

U.S. stocks were moderately lower as well on prospects of the Federal Reserve hiking interest rates as early as September following Friday's strong U.S. jobs data.

Energy stocks retreated 1.1 percent as crude prices, pinched by a slide in Chinese fuel imports and OPEC's decision to keep its production target, fell some one percent.   Continued...