(Adds portfolio manger comment, details, updates prices)
* TSX down 31.76 points, or 0.2 percent, to 15,465.08
* Six of the TSX's 10 main groups fall
TORONTO, March 10 Canada's main stock index
turned negative in mid-morning trade on Friday, with shares in
Toronto-Dominion Bank falling sharply on reports of
employees admitting to breaking the law under pressure to meet
The bank, one of Canada's biggest, was last down 2.7 percent
at C$67.97, after CBC said hundreds of current and former TD
employees had responded with corroboration of an earlier report
about the bank's tactics. (here)
"I would assume that if these allegations are true then it's
going to become a bigger story and you're going to see the
regulators and the government take a look at TD is going to be
dragged through the mud," said Barry Schwartz, a portfolio
manager at Baskin Financial Services.
TD did not immediately respond to requests for comment.
The financials group slipped 0.3 percent, despite many of
its biggest members moving higher as solid domestic jobs data
broadly boosted bond yields.
The energy group retreated 0.7 percent, as oil prices fell
further after sharp losses in the past two sessions. Canadian
Natural Resources declined 1.3 percent to C$42.73 after jumping
sharply on Thursday's news the company would buy significant oil
sands assets from Royal Dutch Shell.
At 11:04 a.m ET (1604 GMT), the Toronto Stock Exchange's
S&P/TSX composite index fell 31.76 points, or 0.2
percent, to 15,465.08.
Six of the index's 10 main groups were in negative
The materials group, which includes precious and base metals
miners and fertilizer companies, added 0.9 percent, as Barrick
Gold Corp rose 1.1 percent to C$24.15 and First Quantum
Minerals Ltd up 1.0 percent to C$13.72.
Gold recovered from a five-week low after U.S. non-farm
payrolls report for February failed to meet lofty expectations,
while copper rose after six straight sessions of declines as a
surge in inventories halted and workers began an indefinite
strike at a mine in Peru, raising supply concerns.
Element Fleet Management declined 9.7 percent to C$12.775 as
several banks downgraded or trimmed their price targets on the
company after it reported quarterly earnings.
(Reporting by Alastair Sharp; Editing by Meredith Mazzilli)