Toronto stocks flat after early stumble, gold up

Wed Jan 9, 2008 9:53am EST
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TORONTO Jan 9 (Reuters) - The Toronto Stock Exchange's main index stumbled out of the gate on Wednesday but quickly recovered, punching into positive territory as the gold sector advanced while investors remained sour on financial institutions.

The S&P/TSX composite index .GSPTSE was up 10.29 points, or 0.1 percent, at 13,552.04. It had dipped more than 65 points shortly after the opening bell.

Six of the index's 10 main sectors were in the red, including drops of 0.1 percent in financials and 0.5 in telecoms.

On the upside, materials jumped 0.9 percent. Its gold sub-index added 1 percent.

Barrick Gold ABX.TO was up 58 Canadian cents at C$50.04.

Corus Entertainment Inc CJRb.TO, which reported a seven-percent rise in quarterly profit before the bell, fell 79 Canadian cents to C$44.51.

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