CANADA STOCKS-TSX falls on global outlook fears, RIM worry

Thu Aug 12, 2010 5:02pm EDT
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* TSX ends down 0.51 percent at 11,523.60

* Five of 10 sectors lower

* Golds up 2.26 percent

* RIM falls 4 percent (Updates with official close, comment, further detail)

By Claire Sibonney and Pav Jordan

TORONTO, Aug 12 (Reuters) - Toronto's main stock index had its weakest close in three weeks on Thursday, led by banks and insurers, as deepening apprehension over the outlook for the global economic recovery hit prices.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed down 58.61 points, or 0.51 percent, at 11,523.60. That followed a 2.2 percent retreat on Wednesday.

The decline was led by economically sensitive financial shares, as growing fears the global economy could slip back into recession hit investor sentiment.

"People are nervous about a double dip here and how that affects of course the banks," said John Kinsey, a portfolio manager at Caldwell Securities.   Continued...