CANADA STOCKS-TSX shaken lower by energy and bank shares

Thu Dec 17, 2009 4:33pm EST
 
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 * TSX falls 163.98 points to 11,473.06
 * Third lower close in past six sessions
 (Adds details, comments and official numbers)
 By Frank Pingue
 TORONTO, Dec 17 (Reuters) - Toronto's main stock index fell
on Thursday as oil companies and gold miners tripped over lower
prices for commodities, while bank shares fell after earnings
estimates for U.S. banks were trimmed by an influential bank
analyst.
 Suncor Energy SU.TO, the main drag on the index, checked
out of the session 3.6 percent lower at C$36.55, while Goldcorp
G.TO shares slid 4.8 percent to C$40.00.
 Energy shares were dragged down by a near 1 percent fall in
oil prices after a two-day rise, while shares of gold miners
were hit by a 3 percent drop in bullion prices. [O/R] [GOL/]
 Canadian bank shares fell in sympathy with their U.S. peers
after influential bank analyst Meredith Whitney cut earnings
estimates for Goldman Sachs Group GS.N and Morgan Stanley
MS.N for 2010 and 2011. [ID:nWNBB2532]
 Shares of Toronto-Dominion Bank TD.TO slid 1 percent to
C$64.20, while Royal Bank of Canada RY.TO ended down 0.6
percent at C$54.94.
  The S&P/TSX composite index .GSPTSE ended down 163.98
points, or 1.41 percent, at 11,473.06, wiping out all of
Wednesday's 96-point advance.
 The bulk of the TSX's latest pullback, its third in the
past six sessions, came within the first 30 minutes of the
session before the index slipped into a relatively tight range
for the remainder of the day.
 "It just seems like there are not a lot of players out
there and people are making their bets early in the day," said
Bruce Latimer, trader at Dundee Securities. "As the markets
come off there are sometimes buyers at lower levels but we're
not seeing a whole lot of that here today."
 According to Latimer, with many investors getting set to
take off for Christmas and New Year holidays, the TSX is not
likely to attract too much attention for the rest of the year.
 ($1=$1.07 Canadian)
 (Editing by Peter Galloway)