CANADA STOCKS-TSX ends at 3-week low after weak U.S. data

Thu Oct 1, 2009 4:24pm EDT
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 * TSX drops 323.20 points to 11,071.76
 * Lowest TSX close since Sept. 9
 * All 10 TSX sectors finish lower
 (Adds details, comments and official numbers)
 By Frank Pingue
 TORONTO, Oct 1 (Reuters) - Toronto's main stock index
skidded nearly 3 percent to its lowest close in more than three
weeks on Thursday, hit by a mix of soft commodity prices and
weak data from the United States that raised concerns about the
strength of economic recovery.
 Shares of oil company Suncor Energy (SU.TO: Quote), the biggest
drag on the index, dropped 4.4 percent to C$35.74, while
Canadian Natural Resources (CNQ.TO: Quote) ended down 3.4 percent at
 Heavyweight bank shares were also hit. Royal Bank of Canada
(RY.TO: Quote) dropped 2.45 percent to C$56.14, while Toronto-Dominion
Bank (TD.TO: Quote) ended down 2.8 percent at C$66.70.
 Fresh off a third-quarter gain of 9.8 percent, the TSX was
knocked back after a report that showed the U.S. manufacturing
sector expanded in September for a second straight month but at
a slower pace than economists expected. [ID:nSP546135]
 "We had a better than expected third quarter and so I think
people being wary of the stability of the recovery are anxious
to take profits," said Michael Sprung, president at Sprung & Co
Investment Counsel.
 "And you couple that with the disappointing manufacturing
number and I think people are, and maybe rightly so, worried
about the underlying strength of the economy."
 The S&P/TSX composite index .GSPTSE ended down 323.20
points, or 2.84 percent, at 11,071.76. That marked the TSX's
lowest close since Sept. 9.
 ($1=$1.08 Canadian)
 (Reporting by Frank Pingue; editing by Peter Galloway)