CANADA STOCKS-TSX falls on commodities, Shoppers Drug dives

Thu Apr 8, 2010 10:58am EDT
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*TSX down 0.77 percent at 12,017.44

*Energy, financials lead index lower

*Shoppers Drug Mart plunges almost 10 percent

By Claire Sibonney

TORONTO, April 8 (Reuters) - Toronto's main stock index was sharply lower on Thursday morning as a triple whammy of weaker commodity prices, persisting euro zones worries and a rise in U.S. jobless claims hit stock markets around the world.

Also hurting the index, shares of Shoppers Drug Mart SC.TO, Canada's biggest drugstore chain, plunged more than 16 percent as investors assessed the fallout from Ontario's plan to reduce generic drug prices. [ID:nN08178007]

On the commodities side, oil declined for a second day towards $85 a barrel and natural gas futures also traded lower, sending oil and gas producers down more than 1 percent. [O/R] [NATGAS]

Shares of Suncor Energy Inc (SU.TO: Quote) slipped 0.7 percent to C$34.34, while EnCana Corp (ECA.TO: Quote) shaved off 1.4 percent to C$31.79.

Shares of Athabasca Oil Sands Corp (ATH.TO: Quote), Canada's biggest initial public offering in more than a decade, dipped to C$17.65 in their debut on the Toronto Stock Exchange, below their pre-market price of C$18. [ID:nN08142063]   Continued...