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: Quote), and National Bank of Canada (NA.TO: Quote) 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...