CANADA STOCKS-TSX drops as U.S. data hits bank, oil shares

Fri Oct 2, 2009 4:53pm EDT
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* TSX falls 113.43 points to 10,958.33

* Ends week down 2.3 percent

* Energy, banks headline latest retreat (Adds details, quotes background)

By Frank Pingue

TORONTO, Oct 2 (Reuters) - Toronto's main stock index fell 1 percent to its lowest close in a month on Friday as a drop in oil prices rattled energy shares while surprisingly weak U.S. jobs data weighed on financial issues.

Shares of Bank of Nova Scotia (BNS.TO: Quote), the biggest drag on the index, fell 3 percent to C$46.10, followed closely by Royal Bank of Canada (RY.TO: Quote), which shed 1.7 percent to C$55.17.

The 1.97 percent drop in the index's heavily weighted financials group was pegged on data that showed job losses in the United States totaled 263,000 in September, well above expectations for a decline of 180,000. [ID:nN01277999]

The index's energy sector checked out of the session 1.17 percent lower as oil prices fell more than 1 percent to below $70 a barrel as the U.S. jobs data raised doubts about the strength of the economic recovery. [O/R]

Canadian Natural Resources (CNQ.TO: Quote) shed 1.9 percent to C$68.42, while Suncor Energy (SU.TO: Quote) ended down 1 percent at C$35.35.   Continued...