CANADA STOCKS-TSX pinned lower as bank, energy shares weigh

Mon Jan 19, 2009 11:21am EST
 
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* Energy shares slide as crude retreats

* TSX index adds to last week's 1.8 percent fall

* Moves could be muted with U.S. markets shut for holiday (Adds details)

By Frank Pingue

TORONTO, Jan 19 (Reuters) - Toronto's main stock index was pinned lower at midmorning on Monday as financial issues fell on concerns about the British and U.S. banking sectors, while a drop in oil prices rattled energy shares.

The energy and financial sectors, which together make up about half of the TSX led the decline with slides of 1.8 percent and 1.6 percent respectively.

Among the key drags on the index were Royal Bank of Canada RY.TO, down 2.5 percent at C$32.81, and Toronto-Dominion Bank TD.TO, down 1.8 percent at C$42.90.

At 11:00 a.m. (1600 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 50.96 points, or 0.57 percent, at 8,869.44. Earlier it had fallen to 8,807.73, for drop of 112 points.

Five of the TSX's 10 sectors were lower.   Continued...