CANADA STOCKS-TSX drops sharply at open, resources weak

Thu May 20, 2010 9:36am EDT
 
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TORONTO May 20 (Reuters) - Toronto's main stock index fell sharply at the open on Thursday, led by the hefty resources group, on concern that austerity policies needed to pull fiscally weak EU countries into line will hurt European and world growth.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE declined 161.53 points, or 1.38 percent, to 11,504.24. Nine of the index's 10 main groups were lower, with six posting losses of more than 1 percent each. (Reporting by Ka Yan Ng; Editing by James Dalgleish)