CANADA STOCKS-TSX falls as economic doubts nag

Wed Apr 15, 2009 10:16am EDT
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* TSX down 26.18 points at 9,205.44

* Slide follows Tuesday's lower close

* Still up 23 pct from March five-year low (Adds details and comments)

By Frank Pingue

TORONTO, April 15 (Reuters) - Toronto's main stock index was lower on Wednesday morning as nagging doubts about recovery from the global recession spurred it to relinquish some of the big gains it has recorded in recent weeks.

The index's technology shares fell after Intel INTC.O said late on Tuesday that economic uncertainty ruled out a clear revenue forecast, while Wal-Mart Stores Inc WMT.N said it sees no quick end to the recession. [ID:nN14455703] [ID:nN15512983]

Shares of BlackBerry maker Research In Motion RIM.TO were down 1.5 percent at C$77.12, and the information technology sector as a whole was down 1.4 percent, the steepest drop among all of the index's sectors.

"The U.S. (markets) are weak and we're just kind of following," said John Kinsey, portfolio manager at Caldwell Securities Ltd. "I think this is ... just kind of a pause and maybe maybe we are due for a little softening after the great run that we've had."

At 10:00 a.m. (1400 GMT), the S&P/TSX composite index .GSPTSE was down 26.18 points, or 0.28 percent, at 9,205.44. Five of the TSX's 10 sectors were lower. It fell 54 points on Tuesday.

The TSX entered Wednesday's session 23.4 percent above the five-year low it hit in early March.

($1=$1.21 Canadian) (Editing by Peter Galloway)