UPDATE 2-Toronto stocks shed 200 pts, led by energy shares

Thu Jun 19, 2008 1:14pm EDT
 
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(Updates to afternoon)

* TSX falls more than 1 percent

* Energy shares tumble along with oil prices

* Jump in May CPI adds to worries about inflation

TORONTO, June 19 (Reuters) - The Toronto Stock Exchange's main index sagged more than 1 percent on Thursday, as it was yanked down by weak oil and gas shares, and worries about rising inflation.

Sliding oil prices knocked the heavyweight energy sector down 3.3 percent in the wake of news China will raise fuel prices.

Suncor Energy (SU.TO: Quote) gave up C$3.06, or 4.6 percent, at C$63.79, and Canadian Natural Resources (CNQ.TO: Quote) was down C$4.05, or 3.7 percent, at C$105.65.

The S&P/TSX composite index .GSPTSE was down 198.54 points, or 1.32 percent, at 14,874.59 by early afternoon, with all but two of its 10 sectors lower.

Data showing inflation rose last month because of higher energy prices set the negative tone early as it exacerbated concerns over the threat to the economy.   Continued...