CANADA STOCKS-TSX extends drop on resource rout

Wed May 4, 2011 10:39am EDT
 
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TORONTO May 4 (Reuters) - Toronto's main stock index fell more than 1 percent on Wednesday morning, pulled down by lower prices for oil and other commodities and extending losses from Tuesday, when it suffered its biggest one-day drop in almost two months.

Disappointing results and forecasts at some blue-chip Canadian companies also weighed.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 143.26 points, or 1.05 percent, at 13,549.11. Nine of its 10 main sectors were lower, led by a 2 percent loss in oil and gas, and a 1 percent fall in materials. (Reporting by Ka Yan Ng; editing by Peter Galloway)