UPDATE 3-Toronto stocks inch lower amid economic unease

Mon Jun 9, 2008 5:11pm EDT
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(Adds details, quotes)

* Index ends little changed in choppy session

* Persistent concerns over high price of oil weigh

* Potash Corp of Saskatchewan hits record high

By Leah Schnurr

TORONTO, June 9 (Reuters) - An early advance on the Toronto Stock Exchange fizzled out on Monday, leaving the main index little changed as energy shares cut gains, and worries over consumer spending and the global economy weighed.

Investor jitters were carried over from Friday when the price of oil saw an unprecedented jump of more than $10. A retreat by crude on Monday helped ease price concerns somewhat, but investors remained wary of more volatility.

"At the moment, there is some optimism that it has eased off for the day, but oil is still one of those things that can jump at any given point in time without any notice whatsoever," said Adrian Mastracci, portfolio manager and president at KCM Wealth Management Inc. in Vancouver.

Oil for July delivery fell $4.19, or 3 percent, to $134.35 a barrel on the New York Mercantile Exchange on Monday. Prices have more than doubled over the past 12 months.   Continued...