Firm commodities, Nortel boost Toronto stocks

Mon Feb 11, 2008 9:50am EST
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TORONTO Feb 11 (Reuters) - Toronto stocks opened higher on Monday, underpinned by firm commodities and a report that Nortel Networks NT.TO will team up with Motorola Inc MOT.N in wireless networking.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 55.41 points, or 0.4 percent, at 13,044.74.

All 10 of the TSX index's main sub-indices were higher, led by a 1 percent boost from the resource-heavy materials sector and a 0.7 percent hike in energy firms. Technology shares added 1.2 percent.

Metal prices firmed as the price for platinum raced to a record high, while gold remained firm around $922 an ounce.

Nortel Networks added 19 Canadian cents to C$11.23 on a report that it was in talks with Motorola to combine their wireless infrastructure units. ($1=$1.00 Canadian) (Reporting by Scott Anderson; Editing by Bernadette Baum)