Toronto stocks open firm as materials shares rise

Tue Aug 12, 2008 10:00am EDT
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TORONTO Aug 12 (Reuters) - Toronto Stock Exchange's main index opened slightly higher on Tuesday, as investors scooped up materials stocks despite weakness in the price of gold and other base metals.

Shortly after the open, the S&P/TSX composite index .GSPTSE was up 38.36 points, or 0.3 percent, at 13,241.55, with six of its 10 main groups higher.

Materials issues were up 1.8 percent with Potash Corp (POT.TO: Quote) up C$3.45, or 2 percent, to C$175.

In volatile trading, crude oil prices firmed to around $114 a barrel as Russia called a halt to conflict in Georgia.

The energy sector rose 0.9 percent, with EnCana Corp (ECA.TO: Quote) up 33 Canadian cents, or 0.47 percent, at C$71.09. ($1=$1.06 Canadian) (Reporting by Jennifer Kwan; Editing by Bernadette Baum)