CANADA STOCKS-TSX tumbles to near 7-week low on growth fears

Tue Mar 6, 2012 2:58pm EST
 
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* TSX down 268.02 points, or 2.14 pct, at 12,255.93

* Index at lowest since Jan. 18

* All of index's 10 major sectors lower

By Jennifer Kwan

TORONTO, March 6 (Reuters) - Toronto's main stock index skidded to near a seven-week low on Tuesday on fears the global growth outlook is darkening and Greece may not be able to complete a major debt restructuring deal.

The resource-heavy index joined global markets in a sharp retreat on the lingering impact of gloomy euro-zone economic data on Monday and of China's move to lower its economic growth forecasts.

The index's big materials and energy sectors fell by 3.2 percent and 3.5 percent respectively, as commodity prices slid on concerns about the demand outlook.

Leading the TSX lower was Suncor Energy, which sank 5.2 percent to C$33.00. Fellow oil company Canadian Natural Resources tumbled 2.2 percent to C$34.83.   Continued...