Toronto stocks flat, resources offset financials

Wed Apr 9, 2008 9:50am EDT
 
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TORONTO, April 9 (Reuters) - The Toronto Stock Exchange's main index was flat early on Wednesday as commodities rebounded, lifting energy and materials stocks, which offset a drop in financial stocks.

The S&P/TSX composite index .GSPTSE was up 1.77 points at 13,729.30 with four of its 10 main groups on positive terrain.

Canadian Natural Resources CNQ.TO led all gainers, up C$2.76 at C$77.49, while the energy sector added 0.9 percent. Materials shares were led by Potash Corp of Saskatchewan POT.TO, up C$3.30 at C$181.57.

The gains would have been more pronounced if not for falling TSX financial stocks, which were down 0.6 percent a day after the IMF warned losses in the global financial sector might near $1 trillion.

Manulife Financial MF.TO fell 45 Canadian cents to C$39.06.

($1=$1.02 Canadian) (Reporting by Jonathan Spicer; Editing by Scott Anderson)