CANADA STOCKS-Weak commodity prices yank TSX sharply lower

Wed Jun 17, 2009 10:23am EDT
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* TSX down 2.02 percent at 10,098.98

* Materials group, down 4.1 percent, leads TSX lower

* Energy shares falter on weak oil prices (Adds details, quotes)

By Jennifer Kwan

TORONTO, June 17 (Reuters) - Toronto's main stock market index dropped sharply on Wednesday morning, extending losses from the previous session, as falling oil and metals prices pulled the market down.

Among the big commodity-related names that fell were Suncor Energy (SU.TO: Quote), down 3 percent at C$35.10, and Potash Corp of Saskatchewan (POT.TO: Quote), down 8 percent at C$111.17.

The TSX index's energy sector dropped 2.7 percent as the price of oil CLc1 fell below $70 a barrel.

Its materials group fell 4.1 percent as metals prices weakened as doubts about the global economic recovery heightened demand worries. [ID:nLH367230] Copper closed in on a two-week low.

The price of bullion was also lower, but pared earlier losses as the U.S. dollar slipped due to lower-than-expected U.S. inflation data. [ID:nLH366911]   Continued...