CANADA STOCKS-TSX hits 3-week low as resources tumble

Tue Apr 12, 2011 10:49am EDT
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* TSX down 224.79 points, or 1.6 pct, at 13,772.07

* All 10 main sectors weaker (Updates with details, commentary)

By Claire Sibonney

TORONTO, April 12 (Reuters) - Toronto's main stock index slid 1.6 percent to its lowest level in more than three weeks on Tuesday morning, extending the previous session's big loss, with energy issues leading the decline.

Investors were cautious as commodity prices fell for a second day and after Alcoa (AA.N: Quote) reported revenue that missed forecasts, while Japan's upgrade of its nuclear crisis to the Chernobyl level underscored fears of slower economic growth.

The hefty energy and materials sectors, which combined make up about half of the TSX index, were down 3.1 percent and 1.7 percent respectively.

U.S. crude oil futures dropped $3 to around $107 a barrel on demand concerns, pushing Suncor Energy (SU.TO: Quote) down 3.6 percent to C$41.97 and Canadian Natural Resources (CNQ.TO: Quote) down 3.2 percent to C$44.11. [O/R]

Base-metal miners pulled back 2.7 percent on the back of weaker copper prices as Japan raised the severity of the Fukushima nuclear disaster to the highest level. [MET/L] [ID:nL3E7FB2TZ]

Teck Resources TCKb.TO sank 3.3 percent to C$52.04 while First Quantum Minerals (FM.TO: Quote) dropped 3.9 percent to C$125.93.   Continued...