UPDATE 4-Toronto stocks dragged lower by weak resources
(Updates closing numbers, adds details, quotes)
* TSX slips as resource sectors falter
* Energy shares pulled down by sagging oil prices
* Nexen falls after disappointing quarterly profit
TORONTO, July 17 (Reuters) - The Toronto Stock Exchange's main index slipped lower on Thursday as a strong showing from financials was offset by resource shares that were hit by another sharp drop in oil prices.
Oil fell by $5.31 to below $129.29 a barrel amid worries over dampening demand in the United States, as well as easing tensions between Iran and the West.
The drop in oil -- which is still up nearly 30 percent for the year -- battered Bay Street's heavyweight energy group, sending it down 3.2 percent.
"It's apparent that the U.S. is really responding pretty negatively to what's going on," said Brian Pow, vice-president of research and equity analyst at Acumen Capital Partners in Calgary, referring to the still-high energy prices.
"People are really tightening their belts." Continued...