Toronto stock index opens lower on resources

Wed Jul 23, 2008 9:53am EDT
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TORONTO, July 23 (Reuters) - The Toronto Stock Exchange's main index opened lower on Wednesday, as the weak price of gold and oil dragged the resource-laden index lower.

Shortly after the open, the S&P/TSX composite index .GSPTSE was down 58.31 points, or 0.4 percent, at 13,584.88, with four of its 10 main groups in the red.

The energy and materials sectors slipped 0.6 percent and 1 percent, respectively.

Financials, which have gained about 6 percent in the past week on the back of upbeat results in the U.S. financials sector, slipped shortly after the open but quickly reversed and was up 0.2 percent. ($1=$1.01 Canadian) (Reporting by Jennifer Kwan; Editing by Scott Anderson)