CANADA STOCKS-TSX dives on China growth, euro zone worries

Tue Jun 29, 2010 10:51am EDT
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*TSX falls 254.91 points, or 2.2 percent, to 11,352.09

*All 10 of TSX index's down

*China data revision, bank funding hits TSX (Adds details, quote)

By Jennifer Kwan

TORONTO, June 29 (Reuters) - Toronto's main stock index fell sharply on Tuesday morning as commodity prices fell on renewed fears about slowing growth in China and as worries about Europe's debt problems undermined risk appetite.

Weakness in its energy, financials and materials sectors -- the three pillars of the Toronto index -- pushed the TSX index to its lowest level since May 25.

Teck Resources TCKb.TO dropped 6 percent to C$31.71 and Potash Corp of Saskatchewan (POT.TO: Quote) fell 2.4 percent to C$92.72, pushing the materials sector down by 1.9 percent.

The energy sector fell 2.7 percent, dragged down by Suncor Energy (SU.TO: Quote), which lost 3 percent to C$31.93, and Canadian Natural Resources (CNQ.TO: Quote), down 2.9 percent to C$35.21

The index's move lower was largely fueled by revision to the Conference Board's leading economic index for China to a 0.3 percent gain in April rather than the 1.7 percent rise the group had reported earlier. [ID:nN29126233]   Continued...