CANADA STOCKS-TSX turns lower on financials, oil worries

Tue Mar 1, 2011 1:44pm EST
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TORONTO, March 1 (Reuters) - Toronto's main stock index turned lower on Tuesday afternoon, weighed down by falling financial shares and by economic worries sparked by high oil prices.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE fell 2.03 points to 14,134.47, following drops on U.S. stock markets. Heavyweight financials were down 0.6 percent, leading seven of the index's 10 main sectors lower.

U.S. Federal Reserve Chairman Ben Bernanke said on Tuesday the recent surge in oil prices was unlikely to derail the U.S. economy, but his comments did little to reassure investors worried that the turmoil in the Middle East could affect Saudi Arabia, the world's largest oil exporter. For details, see [ID:nLDE720006] (Reporting by Ka Yan Ng; editing by Peter Galloway)