June 9, 2008 / 8:46 PM / 11 years ago

REFILE-UPDATE 2-Toronto stocks end flat after see-saw session

(Refiles to fix typo in 5th paragraph) (Updates closing numbers, adds details)

* Index ends little changed in choppy session

* Persistent concerns over high price of oil weigh

* Potash Corp of Saskatchewan hits record high

TORONTO, June 9 (Reuters) - An early advance on the Toronto Stock Exchange fizzled out on Monday, leaving the main index little changed as energy shares cut gains, and worries over consumer spending and the global economy weighed.

Investor jitters were carried over from Friday when the price of oil saw an unprecedented jump of more than $10. A retreat by crude on Monday helped ease price concerns somewhat, but investors remained wary of more volatility.

The heavyweight energy sector moved against the price of oil for most of the day and finished up 0.2 percent. The sector was mixed, with Canadian Oil Sands Trust COS_u.TO down C$1.54, or 3 percent, at C$50.75, and Suncor Energy (SU.TO) gaining 54 Canadian cents, or 0.8 percent, to C$70.00.

On the upside, fertilizer company Potash Corp of Saskatchewan POT.TO galloped to a record high after Goldman Sachs said prices for potash and phosphate should continue to climb. Potash shares climbed as high as C$232.60 before easing to close up C$5.94, or 2.7 percent, at C$226.74.

In a zig-zag session, in which the benchmark climbed more than 100 points in the morning, the S&P/TSX composite index .GSPTSE closed down 8.79 points, or 0.06 percent, at 14,960.76. All but three of its 10 main sectors were lower.

Consumer stocks declined amid concern over what the high price of oil will do to the consumer appetite for spending. The consumer discretionary and staples sectors were each down 0.8 percent respectively.

Loblaw (L.TO) closed down 80 Canadian cents, or 2.4 percent, at C$33.22, and Tim Hortons THI.TO was off 63 Canadian cents, or 2 percent, to C$31.51.

South of the border, Lehman Brothers LEH.N added to uncertainty over the financial sector as the fourth-largest U.S. investment bank raised $6 billion of capital after it said it expects to post a $2.8 billion quarterly loss from trades and hedges gone sour.

Analysts said the size of the issue of shares and convertible securities renewed worries over the health of financial markets and rattled investor nerves. ($1=$1.02 Canadian) (Reporting by Leah Schnurr; editing by Rob Wilson)

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