CANADA STOCKS-TSX falls as investors grapple with Greece crisis

Wed Apr 28, 2010 10:46am EDT
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* TSX down 0.3 percent at 12,112.33

* Financials, energy lead index

By Claire Sibonney

TORONTO, April 28 (Reuters) - Toronto's main stock index fell for the second day on Wednesday as investors remained nervous over sovereign risk contagion in the euro zone, but news that Greece will soon receive extra help in servicing its debts helped stem some of the losses.

The day after Athens credit rating was cut to junk, heavily-weighted financial shares continued to slide 0.5 percent.

Royal Bank of Canada RY.TO, the country's biggest lender, dropped 0.6 percent to C$61.03, while No. 2 Toronto-Dominion Bank TD.TO shaved off 0.5 percent to C$74.98.

"Yesterday was one of the bigger down days we've had in the North American markets in quite some time so investors are going to need to digest that and decide exactly where they want to put their money to work over the next few weeks,' said Bruce Latimer, trader at Dundee Securities.

As well, oil prices struggled to climb towards $83 a barrel, sending the energy sector down 0.1 percent.

Suncor Energy Inc SU.TO, Canada's biggest oil producer, lost 0.4 percent to trade at C$33.77, while EnCana Corp ECA.TO, the country's biggest producer of natural gas, was off 0.1 percent at C$32.69. [O/R]   Continued...