Toronto stocks skid, commodities in focus

Wed May 28, 2008 9:52am EDT
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TORONTO May 28 (Reuters) - The Toronto Stock Exchange's main index fell early on Wednesday, weighed down by energy producers and miners as the prices of key commodities slumped.

The S&P/TSX composite index .GSPTSE was off 30.27 points, or 0.2 percent, at 14,491.86. The biggest drops were in the energy sector, which was down 1.6 percent, and the materials sector, which was off 0.7 percent.

Strength in the U.S. dollar knocked the wind out of crude oil and spot gold, key indicators for Canadian producers. Suncor Energy SU.TO led all decliners, off C$2.05 at C$66.10.

On the upside, Research In Motion RIM.TO was the top gainer, up C$2.20 at C$135.88, as management was set to meet with Indian government officials regarding that country's concern over security issues related to the company's BlackBerry device. ($1=$0.99 Canadian) (Reporting by Jonathan Spicer; Editing by Scott Anderson)