CANADA STOCKS-TSX slides as growth fears hit oil hard

Tue Jun 1, 2010 4:27pm EDT
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*TSX falls 191.02 points, or 1.6 percent, to 11,571.97

*Energy, financial shares leads index lower (Updates to close, 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 caused concern 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, the country's biggest oil producer, shedding 1.9 percent to C$31.89, and EnCana Corp ECA.TO, Canada's largest natural gas producer, dropping 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.

The index's financial shares were fickle throughout the day, trading in positive and negative territory, before settling 0.5 percent lower.

Bank of Nova Scotia BNS.TO, however, rose 2.6 percent to C$49.52 after reporting stellar quarterly results. [ID:nN28202192]   Continued...