CANADA STOCKS-TSX stumbles as European debt woes weigh

Thu Nov 11, 2010 10:25am EST
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   * TSX down 72.16 points, or 0.56 percent, at 12,870.48
 * All 10 main groups lower
 * Canadian Tire rises nearly 3 pct after results
 (Adds details, quote)
 By Jennifer Kwan
 TORONTO, Nov 11 (Reuters) - Toronto's main stock index fell
on Thursday as European debt woes and a dismal outlook from
Cisco Systems sparked a broad market selloff.
 Influential movers on the downside were Royal Bank of
Canada (RY.TO: Quote), Canada's biggest lender, down 0.9 percent at
C$53.74, and Toronto-Dominion Bank (TD.TO: Quote), off 0.8 percent at
 "There's jitters coming from Europe ... so banks are still
under pressure," said Francis Campeau, broker at MF Global
Canada, in Montreal.
 Heavily weighted financial shares fell 0.7 percent, while
energy shares declined down 0.3 percent.
 Apart from European debt levels, concerns about the U.S.
Federal Reserve's asset purchases and the Group of 20 summit in
Seoul were some of the other factors keeping investors somewhat
 At 10:05 a.m. (1505 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was down 72.16 points, or
0.56 percent, at 12,870.48, with all of its 10 main sectors in
the red.
 In the oil patch, Suncor Energy (SU.TO: Quote) dropped 1.1 percent
to C$35.93, while Canadian Natural Resources (CNQ.TO: Quote) sank 0.4
percent to C$39.86.
 The information technology sector also weighed on the
market, down 1.3 percent, as Cisco Systems Inc (CSCO.O: Quote) gave a
dismal revenue outlook, stunning investors who had hoped for
proof of a recovery in technology spending. The news sent U.S.
stocks lower. [ID:nN10245398] [.N]
 Campeau said that negative impact on the U.S. market
spilled over into Canada. Research in Motion RIM.TO fell 1.5
percent to C$57.71.
 A mix of miners fought to move the index higher including
Cameco Corp (CCO.TO: Quote), up 0.8 percent at C$36.67, and Yamana
Gold (YRI.TO: Quote) Inc, which climbed 0.6 percent to C$11.80.
 Canadian Tire Corp (CTC.TO: Quote) rose 2.9 percent to C$68.25
after the retailer reported a 21 percent jump in net earnings
on Thursday on higher retail sales in key categories and a
strong performance in its financial services division.
 ($1=$1.00 Canadian)
 (Editing by Jeffrey Hodgson)