CANADA STOCKS-TSX stumbles on oil drop but salvages weekly gain
* TSX falls 174.44 points to 8,821.06.
* Lower oil and commodity prices drag
* Third straight week of TSX gains (Adds details, comments and official numbers)
By Frank Pingue
TORONTO, March 27 (Reuters) - Toronto's main stock index ended lower on Friday as a drop in commodity prices shook the resource-heavy market, but the index still rose on the week, marking a third straight week of gains.
A report that showed OPEC produced more oil than it targeted in March contributed to a slide in crude and sparked a selloff in energy shares, which make up more than 20 percent of the main index. [ID:nSP390460]
Shares of EnCana Corp (ECA.TO: Quote), the biggest drag on the index, fell 5 percent to C$52, while fellow oil company Canadian Natural Resources CNQ.TO fell 3.2 percent to C$51.49.
The S&P/TSX composite index .GSPTSE fell 174.44 points, or 1.94 percent, to close at 8,821.06.
For the week the TSX finished up 3.7 percent, due largely to a 450-point rally at the start the week. It marked the index's third straight weekly gain. Continued...