Toronto stocks rise on strength of resources

Fri Apr 4, 2008 9:46am EDT
 
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TORONTO, April 4 (Reuters) - The Toronto Stock Exchange's main index opened higher on Friday, rescued by hot resource shares despite a depressing U.S. job report that weighed on other sectors.

The S&P/TSX composite index .GSPTSE was up 47.14 points, or 0.4 percent, at 13,598.43 with only three of its 10 main groups on positive ground.

The materials sector advanced 1.5 percent and the energy sector added 0.7 percent as the prices of gold, base metals, crude oil and natural gas rose in unison.

On the downside, financial stocks felt the most pain from news that U.S. employers slashed 80,000 jobs last month, the biggest decline in five years.

The TSX financial sector fell 0.4 percent, mirroring declines in U.S. stock markets.

($1=$1.00 Canadian) (Reporting by Jonathan Spicer; Editing by Scott Anderson)