Toronto stocks open little changed, energies dip

Wed May 7, 2008 9:55am EDT
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TORONTO May 7 (Reuters) - The Toronto Stock Exchange's main index was little changed on Wednesday, held back by declines in resource shares, while commodity prices softened and investors locked in profits.

After initially moving lower, the S&P/TSX composite index .GSPTSE edged up 13.39 points, or 0.09 percent, to 14,427.69 shortly after the opening bell.

The heavyweight energy sector edged down 0.2 percent, as the price of crude was flat following Tuesday's record highs.

The materials sector edged up 0.1 percent, but its gold subindex fell 0.8 percent while bullion retreated.

On the upside, the small telecoms sector added 0.7 percent. ($1=$1.00 Canadian) (Reporting by Leah Schnurr; Editing by Scott Anderson)