CANADA STOCKS-TSX pares losses after slide to 10-wk low

Thu May 6, 2010 5:14pm EDT
 
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* TSX ends down 0.28 percent at 11,824.43

* Euro zone debt fears help trigger heavy selling

* Oils, financials lead index lower (Updates to close)

By Jennifer Kwan and Ka Yan Ng

TORONTO, May 6 (Reuters) - Toronto's main stock index closed lower on Thursday, but cut a near-4 percent intraday tumble, sparked by a drop in crude futures and worries the Greek debt crisis may widen to other euro zone countries.

The TSX energy sector tumbled 1.41 percent, though losses were four times bigger at one point, as U.S. crude prices fell below $77 a barrel on fears the debt crisis could threaten economic recovery and undercut demand for oil. [O/R]

EnCana Corp ECA.TO fell 1.39 percent to C$31.95 and Nexen NXY.TO dropped 2.88 percent to C$22.97.

Heavyweight financials were down by 1.26 percent, with Royal Bank of Canada RY.TO off 2.68 percent at C$59.57 and Bank of Montreal BMO.TO down 3.05 percent at C$59.07.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE finished down 32.70 points, or 0.28 percent, at 11,842.43.   Continued...