CANADA STOCKS-TSX slides 1 pct as materials turn lower

Wed Nov 10, 2010 10:35am EST
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TORONTO Nov 10 (Reuters) - Toronto's main stock index slid 1 percent on Wednesday morning as the materials group gave up early gains, pushing the TSX to its lowest level in nearly a week.

The market opened flat on broad weakness, with the pressure alleviated by strength in the materials group, home to major miners. But that heavyweight sector group soon lost more than 1 percent itself.

Combined with similar drops in the heavily weighted energy and financials sectors, the TSX index skidded to its lowest level since Nov. 4.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE fell 128.65 points to 12,787.98. (Reporting by Ka Yan Ng)