CANADA STOCKS-TSX closes below 13,000, lowest since November

Mon Jun 13, 2011 4:36pm EDT
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* TSX ends down 144.28 points, or 1.1 pct, at 12,939.72

* Index close lowest since Nov. 29, 2010

* S&P cuts Greece to CCC, or 8 notches into junk

* All 10 index sectors weaker (Updates to close)

By Claire Sibonney

TORONTO, June 13 (Reuters) - Toronto's main stock market closed below 13,000 on Monday for the first time since November as a downgrade of Greece's credit rating prompted more economic pessimism and a drop in commodity prices.

Greece's credit rating became the lowest of any country in the world after Standard & Poor's downgraded it by three notches, saying the agency would consider any debt restructuring as a default. [ID:nN13126859]

The news sent oil prices tumbling with U.S. crude oil futures ending almost $2 a barrel lower, pushing Toronto's energy shares down almost 2 percent. [O/R]

Oil and gas producer Canadian Natural Resources CNQ.TO was the one of the heaviest drags on the index, falling 1.9 percent to C$38.61, while Suncor Energy SU.TO dropped 1.3 percent to C$37.59.   Continued...