CANADA STOCKS-TSX sheds 1 pct on oil, China but ends Aug higher

Mon Aug 31, 2009 5:18pm EDT
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* TSX down 1 percent at 10,868.21

* Energy, materials shares lead TSX lower

* China stock market selloff spreads to North America

* Index ends August higher, sixth straight monthly gain (Adds commentary, details)

By Ka Yan Ng

TORONTO, Aug 31 (Reuters) - Toronto's main stock market index fell hard on Monday as oil and other key commodity prices dropped after a sharp selloff in Chinese equities undermined confidence in a global economic recovery, but the index still finished August with its sixth straight monthly gain.

The price of oil fell below $70 a barrel, and that pulled the index's big oil and gas group down 2.1 percent. The mining-heavy materials group dropped 2.22 percent.

Among heavyweight decliners were Suncor Energy (SU.TO: Quote), down 2.7 percent at C$33.49, and miner Teck Resources TCKb.TO, which sank 4.1 percent to C$26.42.

China's key stock index .SSEC fell 6.74 percent on Monday to a three-month closing low, logging its second-biggest monthly loss in 15 years [ID:nBJD002975].   Continued...