TORONTO (Reuters) - In their battle over who can best bring stability to the Canadian economy, politicians have added another element of instability to the Toronto stock market.

The political drama that saw Prime Minister Stephen Harper persuade Governor General Michaelle Jean on Thursday to suspend Parliament until the new year may have put the constitutional crisis on a back burner.

But it's merely delayed any direct impact the political fighting might have on equity markets, and thrown one more complication into the mix faced by market players.

Indeed, most analysts agree if there is any impact on Toronto stocks to be felt from the Ottawa stalemate it is the added uncertainty it brings to a market already battered by tumbling commodity prices and gloomy economic data.

"Investors hate uncertainty," said Bob Gorman, chief portfolio strategist at TD Waterhouse.

"I think this is going to reinforce the tendency among a lot of investors to adopt a wait-and-see approach because they don't know what the heck is going on," added Gorman.

"I think it will just put more people on the fence. I would say this negative sentiment and lack of buying support is going to be continued here in the near term."

Battling to stay in power, Harper avoided a no-confidence vote scheduled for December 8 by winning a suspension of Parliament until January 26 and buying some breathing room for the minority Conservative government.

The opposition Liberal, New Democratic and the Bloc Quebecois parties signed a deal this past week to bring down the Conservatives and replace the government with a Liberal-NDP coalition supported by the Bloc.

The S&P/TSX composite index, which swooned for four straight days this past week saw steep losses on Monday when political tensions began to boil over, dropping nine percent for its biggest one-day percentage loss since October 1987.