CANADA STOCKS-TSX falls for second day on swine flu worry

Tue Apr 28, 2009 4:57pm EDT
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* TSX index falls 46.77 points to 9,348.03

* Swine flu concerns weigh on sentiment

* Lower oil and gold prices drag on index (Adds details and comments)

By Ka Yan Ng

TORONTO, April 28 (Reuters) - Toronto's main stock index finished lower for a second straight session on Tuesday as worries about the dangers of a possible swine flu pandemic pulled down commodities prices.

Commodity-related issues, which make up about 40 percent of the index, led the way lower. The energy sector slipped 1.22 percent as oil prices fell below $50 a barrel on expectations of a further drop in demand. [ID:nSP458959]

"(Price of oil has been) fairly volatile but it's been trying to hold around $50 level. If it sticks around the $50 level I think we'll see the oil complex stay reasonably firm," said Lex Kerkovius, senior research analyst at McLean & Partners Wealth Management Ltd., in Calgary, Alberta.

Petro-Canada PCA.TO finished higher, up 0.2 percent at C$37.65, after it reported a first-quarter loss. The weak results were not expected to bring a big drop in Petro-Canada's share price since it's backstopped by Suncor's (SU.TO: Quote) takeover bid of 1.28 of its shares for each PetroCan share. [ID:nN27537864]

Suncor fell 1.18 percent to C$30.11.   Continued...