Toronto stocks inch higher in wobbly trade

Wed May 21, 2008 9:50am EDT
 
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TORONTO May 21 (Reuters) - The Toronto Stock Exchange's main index got off to a wobbly start on Wednesday, dipping then rising as investors snapped up bank, oil and gold stocks in light trade.

The S&P/TSX composite index .GSPTSE was up 14.82 points, or 0.1 percent, at 15,062.16.

Crude oil futures hovered near a record above $130 a barrel, boosting the TSX energy sector by 0.2 percent. Gold firms also rose as spot gold hung on to early gains.

Financial stocks climbed 0.2 percent, with Toronto-Dominion Bank (TD.TO: Quote) up 51 Canadian cents at C$68.75.

The mild climb came despite a consumer price index reading that showed Canadian inflation rose more than expected last month, dampening prospects for future rate cuts. See: [nN21333512] ($1=$0.99 Canadian) (Reporting by Jonathan Spicer; Editing by Scott Anderson)