December 18, 2007 / 7:43 PM / 11 years ago

UPDATE 3-Toronto stocks little changed in choppy trading

(Updates throughout)

TORONTO, Dec 18 (Reuters) - The Toronto Stock Exchange’s main index was little changed on Tuesday afternoon, as resource shares recovered earlier losses on worries over the fallout from the global credit squeeze.

The benchmark S&P/TSX composite index .GSPTSE was up just 15.71 points, or 0.12 percent, at 13,402.82.

In a turbulent session, the index climbed to 13,535.93 in the morning before reversing into negative territory.

By mid-afternoon, strength returned to half of the TSX’s sectors, including the materials sector, which gained 0.6 percent, as firm gold prices helped it shrug off worries over demand.

Kinross Gold (K.TO) was up 55 Canadian cents, or 3.4 percent, to C$16.73 and Barrick Gold (ABX.TO) gained 91 Canadian cents, or 2.4 percent, to C$38.58.

But the influential financial sector remained in negative territory, down 0.5 percent, after earnings from U.S. securities firm Goldman Sachs Group Inc (GS.N) fueled fears of further fallout linked to the U.S. subprime mortgage crisis and resulting credit squeeze.

Canadian Imperial Bank of Commerce (CM.TO) was down C$1.14, or 1.5 percent, at C$73.00, while Bank of Montreal (BMO.TO) fell 17 Canadian cents, or 0.3 percent, to C$56.20.

The energy sector, which makes up about 30 percent of the market, gained 0.4 percent despite a slump in crude on jitters over economic growth.

Suncor Energy (SU.TO) rose C$1.14, or 1.1 percent, to C$103.96 and Petro-Canada PCA.TO was up 65, or 1.3 percent, at C$51.77.

In other news, BioMS Medical Corp MS.TO soared 41.5 percent, or C$1.12, to C$3.82 after it signed a global licensing and development agreement with Eli Lilly (LLY.N) for its multiple sclerosis compound.

$1=$1.01 Canadian Reporting by Leah Schnurr; Editing by Bernadette Baum

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