* TSX ends down 0.6% at 19,580.90
* Posts its lowest closing level since May 31
* Energy falls 2.1%; oil settles 4.2% lower
* Financials lose 0.9%
June 22 (Reuters) - Canada's resource-heavy main stock index fell on Thursday to its lowest closing level in three weeks as a drop in commodity prices and interest rate hikes by global central banks weighed on investor sentiment.
The Toronto Stock Exchange's S&P/TSX composite index ended down 125.05 points, or 0.6% at 19,580.90, its fifth straight day of declines. It was lowest closing level for the TSX since May 31.
"We got a surprise from central banks that they continue to be hawkish and we are starting to see more signals that this inflation fight isn't over," said Greg Taylor, a portfolio manager at Purpose Investments.
"That is causing people to question have we seen peak yields."
The price of oil settled 4.2% lower as a bigger-than-expected Bank of England rate hike prompted worries about the economy and fuel demand. Gold and copper prices also declined.
"With commodities under pressure, the TSX is going to lag," Taylor said.
The energy sector fell 2.1%, while the materials group, which includes precious and base metals miners and fertilizer companies, lost 0.5%.
The two sectors combined account for 30% of the TSX's market capitalization. Financials, which have a 29% weighting, were down 0.9%.
Empire Co shares were a bright spot, gaining 4.1% after the food retailer posted a better-than-expected quarterly profit. (Reporting by Fergal Smith in Toronto and Ankika Biswas in Bengaluru; Editing by Shilpi Majumdar and Sandra Maler)
