The benchmark index of the Toronto Stock Exchange finished slightly higher on Monday as a rise in resource shares was offset by credit worries in the United States.

The S&P/TSX composite index rose 22.67 points, or 0.17%, to end at 13,119.37. Five of the 10 TSX main groups finished higher.

The materials sector was lifted 2% by gold producers, which rose along with bullion prices and helped to put a floor under the benchmark index.

Gold climbed to end just under US$800 an ounce while the U.S. dollar weakened.

Goldcorp was up 3.8% at $32.35, while Barrick Gold added 3.3% to $35.06.

Crude oil prices settled below US $113 a barrel for the first time in more than three months as tropical storm Fay steered clear of oil-producing infrastructure in the Gulf of Mexico.

Light, sweet crude for September delivery fell 90¢ to settle at US$112.87 on the New York Mercantile Exchange. It was the first time crude ended below US$113 since May 1.

The financial-services sector fell 1%, tripped up by sliding bank shares in the United States amid anxiety over the possibility of more losses stemming from the U.S. mortgage crisis.

CIBC fell1.6% to $60.25, and National Bank of Canada dropped 2.2% to $48.87.

Among individual stocks, Corel Corp. rose after the software developer said its majority shareholder had withdrawn its offer to buy out the rest of the company. Corel rose 4.5% to $10.04.

The junior S&P/TSX Venture composite index dropped 13.69 points, or 0.71%, to end at 1,923.64.

The Canadian dollar closed below US94¢. The loonie slipped 0.47¢ from Friday’s close to finish at US93.96¢.

In New York, U.S. stocks sank on Monday as the prospect of more losses from the mortgage crisis hurt the shares of banks and the two biggest home finance providers.

Fannie Mae and Freddie Mac shed more than 20% each after Barron’s reported that the U.S. Treasury may need to bail out the home finance giants.

The Dow Jones industrial average tumbled 180.51 points, or 1.55%, to 11,479.39. The S&P 500 lost 19.60 points, or 1.51%, to 1,278.60. The tech-heavy Nasdaq composite index fell 35.54 points, or 1.45%, to 2,416.98.