CANADA STOCKS-TSX weighed down by oil shares at open

Tue May 10, 2011 9:38am EDT
 
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TORONTO May 10 (Reuters) - Toronto's main stock index slipped shortly after the open on Tuesday, drawn lower by a sinking oil price.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 5.5 points at 13,671.63. Six of the index's 10 main groups were lower, led by a 0.2 percent fall in the oil and gas sector.

Initially, the index rose slightly, backed by strong Chinese trade data that lifted spirits about the pace of economic recovery. But a 1.4 percent drop in U.S. crude oil soon overtook the economic optimism. (Reporting by Ka Yan Ng; editing by Peter Galloway)