CANADA STOCKS-TSX falls as Europe woes outweigh Fed view

Wed Apr 28, 2010 5:24pm EDT
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* TSX falls 0.58 percent to 12,076.89

* S&P cut to Spain's debt rating rattles market

* Fed's economic view brightens, low rate vow holds

* Gold producers shine as bullion climbs (Adds details)

By Ka Yan Ng

TORONTO, April 28 (Reuters) - Toronto's main stock index fell for a second straight day on Wednesday as worries over Europe's fiscal troubles outweighed a brief shot in the arm provided by a more upbeat U.S. Federal Reserve outlook.

Financial and energy shares were among the heavyweight sectors leading the way lower, down 1.38 percent and 0.55 percent, respectively.

Royal Bank of Canada (RY.TO: Quote), the country's biggest lender, dropped 1.34 percent to C$60.58, while Canadian Imperial Bank of Commerce (CM.TO: Quote) lost 1.25 percent to C$74.49. Suncor Energy (SU.TO: Quote), Canada's biggest oil producer, dropped 1 percent to C$33.57.

Nervousness over the fragility of sovereign debt in the euro zone spurred a flight to safe-haven assets after Spain was hit by a credit rating downgrade on Wednesday, following downgrades to Greece and Portugal on Tuesday. [ID:nWNA9804] [ID:nTOPNOW2]   Continued...