CANADA STOCKS-TSX tumbles on global growth concerns

Mon May 17, 2010 5:44pm EDT
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* TSX ends down 201.97, or 1.68 pct, at 11,813.00

* Nine of index's 10 main sectors lower

* Miners lead slide; oils retreat on weak crude (Updates to close, adds quotes)

By Jennifer Kwan

TORONTO, May 17 (Reuters) - Toronto's main stock index fell for a third straight session on Monday as oil and metal prices tumbled on concerns about euro zone debt and weaker growth in China, knocking commodity issues lower.

Teck Resources TCKb.TO fell 6.3 percent to C$33.11 and First Quantum (FM.TO: Quote) sank 6.6 percent to C$64.98 as industrial metals plummeted. [MET/L]

Barrick Gold (ABX.TO: Quote) fell 2.6 percent to C$45.87 and Goldcorp Inc (G.TO: Quote) sank 1.9 percent to C$46.25.

"There's concern that the international economies, in particular China, are slowing down. People extrapolate that to make the assumption that you're going to see lower commodity prices," said Irwin Michael, portfolio manager at ABC Funds.

Toronto's slide came as China's key stock index tumbled 5.07 percent on Monday to its lowest close in a year. That fall was led by property issues, as retail investors fled the market after a month-long rout sparked by a severe government clampdown on surging property prices. [.SSEC] [ID:nTOE64G065]   Continued...