CANADA STOCKS-Slumping energy pulls TSX off 3-month high

Tue Apr 14, 2009 2:31pm EDT
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* TSX down 76.21 points at 9,209.41

* Energy sector down 2.4 percent

* Skid follows 5-week TSX rally (Adds comments and details)

By Frank Pingue

TORONTO, April 14 (Reuters) - Toronto's main stock index fell on Tuesday after earlier hitting a three-month high, as lower oil prices pulled down the heavily weighted energy sector.

Oil is a key Canadian export and its price often dictates direction for the TSX index's energy component, which was down 2.4 percent, the steepest drop among sectors in lower territory.

Shares of EnCana ECA.TO, Canada's biggest energy company, fell 3 percent to C$54.55 and were the biggest drag on the overall index, while Suncor Energy SU.TO shares dropped 4 percent to C$30.69.

At 2:05 p.m. (1805 GMT), the S&P/TSX composite index .GSPTSE was down 76.21 points, or 0.82 percent, at 9,209.41.

The index had earlier reached 9330.61, its highest level since January 7.   Continued...