February 22, 2008 / 2:57 PM / 11 years ago

Toronto stocks flat after early rise

TORONTO, Feb 22 (Reuters) - The Toronto Stock Exchange’s main index opened higher but quickly handed back those gains on Friday morning, with rising energy firms offsetting falling tech shares.

The S&P/TSX composite index .GSPTSE was down 3.98 points, at 13,505.57 with half of the index’s 10 main groups in negative territory.

The energy sector climbed 0.6 percent and utilities added 0.4 percent, while information technology issues fell 0.4 percent.

Rogers Communications Inc (RCIb.TO) shot up at the open but quickly retreated into the red, down 19 Canadian cents at C$38.81 after it reported a fourth-quarter profit that largely met analysts’ expectations. See: [nN22555680]

Royal Bank of Canada (RY.TO) — which late on Thursday said it would buy one of Canada’s largest and last independent fund managers for about C$1.36 billion — was off 15 Canadian cents at C$50.24. For details, see: [nN21506094]

$1=$1.01 Canadian Reporting by Jonathan Spicer; Editing by Scott Anderson

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