October 30, 2009 / 4:47 PM / in 8 years

CANADA STOCKS-TSX drops 2 pct, resources lead slide

 TORONTO, Oct 30 (Reuters) - Toronto’s main stock index fell hard on Friday afternoon, unwinding nearly all of the previous session’s rally, as its two big resource-based sectors each dropped more than 3 percent.
 Declines were heavy in Suncor Energy (SU.TO), Barrick Gold (ABX.TO) and other commodity-based issues, which account for more than 40 percent of the index’s weighting. The fall was induced by softening prices for oil and gold, as well as profit-taking after the index’s 269-point rally on Thursday.
 The S&P/TSX composite index .GSPTSE was down 223.87 points, or 2.02 percent, at 10,851.35.  (Reporting by Ka Yan Ng; editing by Peter Galloway)                                      

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