CANADA STOCKS-TSX dives as Bernanke comments rattle markets

Wed Jul 21, 2010 4:21pm EDT
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   * TSX down 116.55 points, or 1 percent, at 11,513.33
 * "Unusually uncertain" U.S. recovery adds to jitters
 * Nine of TSX's main groups drop
 (Updates to close, adds quotes)
 TORONTO, July 21 (Reuters) - Toronto's main stock index
fell sharply on Wednesday after the U.S. Federal Reserve said
the U.S. economy faces "unusually uncertain" prospects, adding
to investor concerns about a slow economic recovery.
 The central bank's Chairman Ben Bernanke said on Wednesday
policymakers believe the U.S. economy is still on a path to
recovery, but the Fed is ready to take further steps to bolster
growth if needed.  [ID:nWALLIE6DU]
 The remarks to the Senate Banking Committee added to
investor jitters about a sluggish economic recovery, helping to
push down North American equities. [.N]
 In Canada, big names on the downside included Royal Bank of
Canada RY.TO, off 2.9 percent at C$52.00, Suncor Energy
SU.TO, down 1.8 percent at C$32.54, and Canadian Natural
Resources CNQ.TO, which fell 1.6 percent to C$35.92.
 "It's all about the outlook being 'unusually uncertain.'
This is not the environment to put risk on. It's a perfect
environment to duck and cover," said Francis Campeau, broker at
MF Global Canada in Montreal.
 The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE finished the session down 116.55 points, or 1
percent, at 11,513.33.
 Nine of the index's 10 main groups skidded, while oil and
gold prices also dropped. [O/R] [GOL/]
 The index's heavily weighted energy and financials sectors
led the slide, down 1.2 percent and 1.9 percent, respectively.
The lone sector in the black was consumer staples, up 0.3
 ($1=$1.05 Canadian)
 (Reporting by Jennifer Kwan)