Weak resources, profit taking hits Toronto stocks

Tue May 13, 2008 9:55am EDT
 
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TORONTO May 13 (Reuters) - Toronto's main stock market index dropped more than 100 points near the open on Tuesday as weak commodity prices and profit taking knocked the index off its record high.

Just after the open, the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 102.42 points, or 0.7 percent, at 14,563.65.

This follows a record-setting performance in the previous session that saw the index jump 144.88 points to a new closing high of 14,666.07 after establishing a record intraday high of 14,695.75. ($1=$1.00 Canadian) (Reporting by Scott Anderson; Editing by Bernadette Baum)