UPDATE 1-Toronto stocks higher but off early record high

Fri Jun 6, 2008 10:59am EDT
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(Adds details, analyst)

*TSX index hits record high as resources soar

*Weak U.S. dollar lifts key commodities

*Jobs data weighs on financials and other sectors

By Jonathan Spicer

TORONTO, June 6 (Reuters) - The Toronto Stock Exchange's main index was higher at midmorning on Friday but off the record it hit early in the day on surging prices for oil and other commodities.

By midmorning, the S&P/TSX composite index .GSPTSE was up 83.73 points, or 0.6 percent, at 15,066.64. Earlier it rose as high as 15,154.77, with the index's mining-heavy materials sector at a record and the energy sector very close.

Aside from heavily weighted resource shares, however, the rest of the market slumped amid worrying employment figures in Canada and the United States.

Oil and gas producer Canadian Natural Resources CNQ.TO led the charge for a second-straight day, up C$4.61 at C$108.25, as oil companies occupied the top three spots among TSX weighted gainers.   Continued...