CANADA STOCKS-Hefty losses in key TSX sectors over commodities, global fears

Tue Jul 7, 2015 11:44am EDT
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(Updates throughout with commentary, market reaction, details)

* TSX down 186.32 points, or 1.28 percent, to 14,407.25

* All of the TSX's 10 main groups declined

By Solarina Ho

TORONTO, July 7 (Reuters) - Canada's main stock index tumbled more than 1 percent on Tuesday to levels not seen since January, as worries at home and abroad drove miners, oil and gas companies, and banks sharply lower.

The three sectors make up some two thirds of the index's weight. Nine of the index's 10 heaviest drags belonged to the three groups.

First Quantum Minerals plunged 12 percent to C$13.94, while Toronto-Dominion Bank declined 1.1 percent to C$52.15.

Materials, home to mining companies, sank 4.0 percent, to their lowest level since December, while the financials sector fell 1.3 percent to its weakest level since March.

Gold and copper prices fell to multi-month lows due to instability created by the Greek debt crisis and a stock market rout in China.   Continued...