CANADA STOCKS-TSX falls on economic recovery worries

Fri Jul 30, 2010 5:07pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

*TSX ends down 15.21 points at 11,713.43

*Index in narrow range ahead of Canadian holiday

*Six of TSX's main sectors lower (Adds details)

By Jennifer Kwan

TORONTO, July 30 (Reuters) - Toronto's main stock index ended lower on Friday as weaker than expected gross domestic product data fueled investor fears about a slow recovery.

On the downside were energy and financial shares, down 0.4 percent and 0.5 percent, respectively, after U.S. growth slowed in the second quarter, adding to anxiety about the longer-term outlook. [ID:nN30215488]. Canada's economy grew in May, but only just. [ID:nN30274982]

Canadian Natural Resources CNQ.TO dropped 1 percent to C$35.40, and Toronto-Dominion Bank TD.TO sank 1.1 percent to C$73.16.

"You're seeing some of these economically sensitive sectors being weighed down by concerns that growth is not yet as robust as it should be," said Elvis Picardo, analyst and strategist at Global Securities in Vancouver.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE finished the day down 15.21 points, or 0.13 percent, at 11,713.43, with six of its 10 main sectors lower.   Continued...