CANADA STOCKS-TSX falls as economic worries linger

Wed Mar 7, 2012 10:41am EST
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* TSX down 50.47 points at 12,248.16

* Six of index's main sectors down

* Wi-Lan rises 8.6 pct after dividend hike

TORONTO, March 7 (Reuters) - Canada's main stock index was lower on Wednesday morning, a day after suffering its worst selloff this year, as fears of slower global economic growth continued to weigh on resource and bank shares.

Among big-name decliners were Royal Bank of Canada, down 0.7 percent at C$55.74, and oil company Canadian Natural Resources, which fell 1.1 percent to C$34.88. Miner Goldcorp fell 0.8 percent to C$46.54, and Toronto-Dominion Bank sank 0.7 percent to C$80.03.

The index's energy, materials and financials sectors were weaker, while industrials, consumer staples and information technology shares firmed.

Fears of recession in Europe and the lowest annual growth outlook in China in eight years have been hitting the Toronto market for the past three sessions.

John Kinsey, portfolio manager at Caldwell Securities Ltd, said those concerns continued to weigh on the market on Wednesday as it reconsidered its position after climbing steadily over recent months.   Continued...