September 3, 2008 / 3:48 PM / 10 years ago

Toronto stocks dive in resource-driven retreat

TORONTO, Sept 3 (Reuters) - The Toronto Stock Exchange sold off sharply for a second day in a row on Wednesday, giving up more than 2 percent by late morning in a broad decline led by resource shares, which followed commodities lower.

The S&P/TSX composite index .GSPTSE was down 300.35 points, or 2.26 percent, at 12,999.19, adding to a loss of more than 3 percent in the previous session.

The energy and materials sectors, which together make up about half the index, dragged as oil and gold prices retreated. Oil fell to below $108 a barrel on worries of weakening demand.

Among the biggest laggards, Canadian Natural Resources (CNQ.TO) was down 5.6 percent at C$80.03, while Potash Corp of Saskatchewan POT.TO shed 5.9 percent to C$162.60. ($1=$1.06 Canadian) (Reporting by Leah Schnurr; editing by Rob Wilson)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below