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, the biggest
drag on the index, dropped 4.4 percent to C$35.74, while
Canadian Natural Resources CNQ.TO ended down 3.4 percent at
 Heavyweight bank shares were also hit. Royal Bank of Canada
RY.TO dropped 2.45 percent to C$56.14, while Toronto-Dominion
Bank TD.TO 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)