CANADA STOCKS-TSX sags as growth fears hit energy issues

Tue Jun 1, 2010 4:58pm EDT
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* TSX falls 191.02 points, or 1.6 percent, to 11,571.97

* Energy, financial issues lead index lower

* Gold stocks, telecoms gain (Adds details, quotes)

By Claire Sibonney

TORONTO, June 1 (Reuters) - Toronto's main stock index ended sharply lower in volatile trading on Tuesday, after sluggish global manufacturing data raised concerns about the pace of economic recovery, punishing oil prices and the TSX's powerhouse energy sector.

Energy shares sank 3.3 percent, with Suncor Energy Inc (SU.TO: Quote), the country's biggest oil producer, shedding 1.9 percent to C$31.89. EnCana Corp (ECA.TO: Quote), Canada's largest natural gas producer, fell 3.2 percent to C$32.18.

Data showed manufacturing growth slowed in the euro zone and China, but there was some relief in the United States, where there was scant evidence of an impending slump. [ID:nN01231825]

Still, oil fell nearly 2 percent to below $73 a barrel in choppy trade.

"There's a great deal of nervousness about global growth," said Elvis Picardo, analyst and strategist at Global Securities in Vancouver,   Continued...