Toronto stocks sag as resource shares fall

Fri Jul 4, 2008 9:43am EDT
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TORONTO, July 4 (Reuters) - The Toronto Stock Exchange's main index slid at the open on Friday, in a broad slump prompted by declines in resource issues amid soft commodity prices.

The S&P/TSX composite index .GSPTSE was down 103.24 points, or 0.7 percent, at 14,040.33 with all but two of its 10 main sectors in a downturn.

The energy and materials sectors led the way, giving up 0.8 percent and 1.2 percent, respectively.

Meanwhile, BCE Inc (BCE.TO: Quote) said shortly before the market opened that buyers were sticking with the agreed C$42.75 per-share purchase price for the buyout of the telecommunications company. For details, see: [nWNA8846].

Shares of BCE were halted on the Toronto Stock Exchange and were set to resume at 10:00. ($1=$1.02 Canadian) (Reporting by Leah Schnurr; Editing by Scott Anderson)