Toronto stocks slip as banks dive deeper

Thu Apr 10, 2008 9:53am EDT
 
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TORONTO, April 10 (Reuters) - The Toronto Stock Exchange's main index edged lower early on Thursday, continuing the pattern from the day before when bank stocks fell and resource stocks gained on the back of firm commodities.

The S&P/TSX composite index .GSPTSE was down 10.32 points, or 0.1 percent, at 13,740.23.

The financial sector tumbled 0.7 percent after news U.S. bank Lehman Brothers LEH.N put $1 billion of soured assets on its balance sheet. Royal Bank of Canada RY.TO led Canadian stocks lower, down 49 Canadian cents at C$46.55.

On the flipside, the energy sector advanced 0.3 percent and materials added 0.4 percent. The TSX utilities sector jumped 0.6 percent.

Among those reporting earnings on Thursday, radio and specialty-TV firm Corus Entertainment CJRb.TO jumped 22 Canadian cents to C$18.84, while sporting goods retailer Forzani FGL.TO advanced 16 Canadian cents to C$17.75. For details, see: [nN10261056] and [nN09470582]

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