Toronto stocks tumble at open in broad slump

Fri Feb 29, 2008 9:41am EST
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TORONTO Feb 29 (Reuters) - The Toronto Stock Exchange's main index slid at the open on Friday, in a broad-based slump amid losses in the heavyweight energy and financial sectors

The S&P/TSX composite index .GSPTSE was down 73.94 points, or 0.53 percent, at 13,799.95 shortly after the open with all of its 10 main sectors in the negative.

The financial sector lost 0.7 percent while Royal Bank of Canada RY.TO fell after Canada's biggest bank reported a drop in profit on writedowns of various U.S. securities, a climbing Canadian dollar, and gains seen a year ago that were not repeated.

The energy sector fell 0.6 percent, while the price of oil eased from record highs seen in the previous session. (Reporting by Leah Schnurr; Editing by Renato Andrade)