Toronto stock index opens higher on financials

Wed Jul 30, 2008 9:39am EDT
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TORONTO, July 30 (Reuters) - The Toronto Stock Exchange's main index opened higher on Wednesday, as higher financial shares overcame weakness in the price of oil and gold.

The S&P/TSX composite index .GSPTSE was up 42.48 points, or 0.3 percent, at 13,385.03.

The heavily-weighted financials sector rose 1 percent, extending the previous session's gains as investors were hopeful that the health of U.S. financial system was a step closer to stabilizing.

The key energy and materials sectors were down 0.3 percent and 0.9 percent, respectively, along with underlying commodities. (Reporting by Jennifer Kwan; Editing by Scott Anderson)