CANADA STOCKS-TSX dragged lower by weak oils, financials

Wed Feb 18, 2009 4:49pm EST
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* TSX down 3rd straight day, falls 2.42 pct to 8,175.95

* Index touches 8,138.98, its lowest level in 2009

* Telecoms down 3.6 pct as Rogers slumps after results (Adds details, quotes)

By Jennifer Kwan

TORONTO, Feb 18 (Reuters) - Toronto's main stock index fell broadly on Wednesday for a third straight session, touching a 2009 low, pressured by weak energy and financial issues and a slide by Rogers Communications Inc RCIb.TO.

The heavily weighted financial services and energy sectors both retreated 3.6 percent, while telecoms also tumbled 3.6 percent.

EnCana Corp ECA.TO dropped 3.7 percent to C$49.40 and Royal Bank of Canada RY.TO fell 4.2 percent to C$26.98.

Rogers shed 7.7 percent to C$31.70 after the media and communications company said it swung to a quarterly loss as it took almost C$300 million in impairment charges on its conventional television business to reflect the impact of the weak economy. [ID:nN18418432]

The market's drop came even as U.S. President Barack Obama unveiled a plan that pledged up to $275 billion to help stabilize the troubled U.S. housing market. [ID:nN17400254]   Continued...