CANADA STOCKS-Banks help drag TSX down 1 percent

Tue Oct 19, 2010 2:25pm EDT
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TORONTO Oct 19 (Reuters) - Toronto's main stock index extended losses on Tuesday afternoon, falling more than 1 percent as all three of its heavyweight sectors -- materials, energy and financials -- declined.

Financial shares reversed their earlier gains as they tracked a slide in U.S. bank shares. [.N]

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 130.94 points, or 1.03 percent, at 12,537.07. (Reporting by Claire Sibonney; editing by Peter Galloway)