UPDATE 1-Toronto stocks lower as commodity prices soften
(Adds details, comment)
*Soft commodities weigh on resource stocks
*Nortel rises on bullish business plans
*Banks follow world stocks higher
*Transat AT, Canaccord Capital rise on results
By Jonathan Spicer
TORONTO, June 12 (Reuters) - The Toronto Stock Exchange's main index dropped on Thursday morning as oil and gold prices headed lower, hitting Canadian resource shares.
The TSX energy and gold groups fell 1.7 percent and 2.5 percent respectively.
Losses on the resource-heavy index would have been worse if not for strength in Nortel Networks NT.TO and big banks, which rose in tandem with most world equity markets. Continued...