CANADA STOCKS-TSX drops on global growth concerns

Mon Jul 5, 2010 10:30am EDT
 
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*TSX down 82.41 points at 11,113.65

*All 10 sectors lower

(Updates with details, quotes)

By Claire Sibonney

TORONTO, July 5 (Reuters) - Toronto's main stock index dropped on Monday to its lowest in nearly five months as energy, materials and financial issues receded on concerns about global economic growth.

The broad-based decline came on thin trading on a day when U.S. markets were closed for the Independence Day holiday.

Among the biggest decliners, Suncor Energy SU.TO lost 0.9 percent to C$30.84, Royal Bank of Canada RY.TO fell 0.9 percent to C$50.45 and Teck Resources TCKb.TO knocked off 2.2 percent to C$30.93.

World stock prices also fell for the fourth day running on growing concerns of slowdowns in the United States and China -- the two main pillars of global growth. [MKTS/GLOB]

"People are obviously concerned about the chatter of a possible double-dip recession," said Bruce Latimer, a trader at Dundee Securities.   Continued...