CANADA STOCKS-TSX knocked lower as TD, CIBC results miss

Thu May 26, 2011 11:05am EDT
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* TSX down 0.31 percent at 13,708.19

* Financials main drag, down 1 pct

* Seven of 10 main sectors on the rise

* TD, CIBC, National report mixed results

* TMX shares up on Maple Group's hostile bid (Adds details)

By Ka Yan Ng

TORONTO, May 26 (Reuters) - Toronto's main stock index sagged on Thursday, weighed down by bank results that came in slightly below expectations.

Toronto-Dominion Bank (TD.TO: Quote), Canadian Imperial Bank of Commerce CM.TO, and National Bank of Canada NA.TO all reported higher quarterly profit, but TD and CIBC were shy of market expectations, sending their shares down more than 2 percent. [ID:nN26230622] [ID:nN26207347]

"Two of three disappointed," said Francis Campeau, a broker at MF Global Canada in Montreal. "The financial sector is bringing the Canadian market down."   Continued...