CANADA STOCKS-TSX extends losses on U.S. bank worries

Fri Jan 16, 2009 12:25pm EST
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TORONTO Jan 16 (Reuters) - Toronto's key stock index extended losses on Friday in a broad slide led by the heavyweight financial group, which fell on continuing worries about the health of the U.S. banking sector.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE fell 1.13 percent, or 100.18 points, to 8,779.43 Earlier in the day, it rallied as high as 9,036.44, for a gain of 156 points, or 1.8 percent.

An early rally in the energy and materials groups, which also make up a large part of the index, also fizzled as the price of oil turned lower.

($1=$1.26 Canadian) (Reporting by Ka Yan Ng; editing by Peter Galloway)