CANADA STOCKS-TSX pulled lower by financials, materials

Fri Feb 13, 2009 4:49pm EST
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* TSX sheds 3.7 percent for the week

* Information technology leads TSX lower, RIM weighs

* Financials slip 2.4 percent as U.S. bank doubt hits

(Adds details, quote, updates figures)

TORONTO, Feb 13 (Reuters) - Toronto's main stock index fell on Friday, dragged lower by financial services stocks on persisting worries about the health of the U.S. banking sector, while materials shares dropped as the price of gold softened.

The resource-laden index capped the week down 3.7 percent after logging two straight weekly gains.

The information technology group dropped 2.7 percent, leading the downside on a percentage basis, as Research in Motion Ltd RIM.TO slumped 4.8 percent to C$60.05.

Financial shares, down 2.4 percent, remained under pressure from big insurers Manulife Financial (MFC.TO: Quote) and Sun Life Financial (SLF.TO: Quote), which reported weak results on Thursday. Manulife fell 3.7 percent to C$17.53, while Sun Life fell 4.5 percent to C$22.10.

Broader worries over the U.S. banking sector also hit the heavily-weighted sector, said Lex Kerkovius, senior research analyst at McLean & Partners Wealth Management Ltd., in Calgary.   Continued...