March 13, 2009 / 3:34 PM / 9 years ago

CANADA STOCKS-TSX drops 1 percent as banks, oils retreat

TORONTO, March 13 (Reuters) - Toronto’s key stock index was down 1 percent late on Friday morning as heavyweight energy and financial issues relinquished early gains.

At 11:20 a.m. (1520 GMT), the S&P/TSX composite index .GSPTSE was down 82.60 points, or 1 percent, at 8,199.67 after rallying as much as 0.9 percent earlier. Nine of the TSX’s 10 sectors were lower. (Reporting by Frank Pingue; Editing by Peter Galloway)

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