CANADA STOCKS-Gold stocks pull down TSX at open

Wed Aug 18, 2010 9:40am EDT
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TORONTO Aug 18 (Reuters) - Toronto's main stock index opened lower on Wednesday, pressured by a fall in gold-mining stocks as the price of the precious metal fell after its recent rally.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE dipped 0.79 of a point to 11,727.85, before extending its decline. Eight of the index's 10 main groups were lower.

Market focus was on developments in BHP Billiton's BHP.AX BLT.L attempt to buy Potash Corp POT.TO. BHP said it would take its $130-a-share offer directly to shareholders, bypassing Potash Corp's board, which a day earlier called the bid "grossly inadequate". [ID:nSGE67H031] (Reporting by Ka Yan Ng; editing by Peter Galloway)