CANADA STOCKS-TSX drops more than 200 points as banks weigh

Tue Dec 9, 2008 2:34pm EST
 
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TORONTO Dec 9 (Reuters) - Toronto's main stock index was down more than 200 points at midafternoon on Tuesday as the heavily weighted financial index was dragged lower by Royal Bank of Canada (RY.TO: Quote) after the bank said it plans to issue shares to beef up its capital ratio.

At 2.28 p.m. (1928 GMT), the S&P/TSX composite index .GSPTSE was down 201.58 points, or 2.35 percent, at 8,365.54, with eight of its 10 main groups lower. (Reporting by Frank Pingue; editing by Peter Galloway)