September 28, 2015 / 3:15 PM / 2 years ago

CANADA STOCKS-TSX falls more than 1 pct as financials, resources drag

(Updates throughout with market moves, details)

* TSX down 176.04 points, or 1.32 percent, to 13,202.53

* Nine of the TSX’s 10 main groups were down

TORONTO, Sept 28 (Reuters) - Canada’s main stock index fell more than 1 percent on Monday, extending Friday’s losses, as weighty financial names and resources fell sharply, hurt by sliding commodity prices.

Ongoing investor uneasiness about the economic stability in China, among the world’s biggest resource consumers, and other big emerging economies dominated market sentiment. Related anxiety over commodity prices spilled over ahead of what is expected to be a busy week in key economic data.

Royal Bank of Canada fell 1.1 percent to C$71.12 to lead losses, while the overall financial sector retreated 1.1 percent.

Transcanada Corp was another weighty loser, sliding 2.4 percent to C$42.59, while its broader energy group sank 2.3 percent.

The struggles in the resource sector hurt the Canadian economy and in turn the fortunes of Canadian banks.

At 10:52 a.m. EDT (1452 GMT), the Toronto Stock Exchange’s S&P/TSX composite index fell 176.04 points, or 1.32 percent, to 13,202.53.

Of the 10 main groups, nine were in the red, with telecoms the lone gainer. Financials, energy and materials, which make up roughly two-thirds of the TSX’s weight, numbered 27 out of the top 30 biggest drags on the index.

Fertilizer producer Potash Corp stumbled 3.3 percent to C$26.57, while First Quantum Minerals plunged 11.7 percent to C$4.83. Materials, home to mining and other resources names, tumbled 3.3 percent.

Declining issues outnumbered advancing ones on the TSX by 214 to 24, for a 8.92-to-1 ratio on the downside.

The index was posting 1 new 52-week highs and 14 new lows.

Reporting by Solarina Ho; Editing by Andrew Hay

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