TSX see-saws on European debt worries

Worries about Europe's debt crisis sent the Toronto Stock Exchange lower for much of trading Friday, before it recovered later in the day.

Traders also sold stocks amid new U.S. unemployment data showing the American economy shed 20,000 jobs in January.

The benchmark index of the Toronto stock market, the S&P/TSX composite index, closed up 94.36 points to 11,223.12 after plunging 262 points Thursday. In New York, markets see-sawed between gains and losses.

The Dow Jones industrials ended higher by 10.05 at 10,012.23 after losing 268 points Thursday. The Nasdaq composite index gained 15.69 to 2,141.12 while the S&P 500 index edged up 3.07 points to 1,066.18.

Investors were also watching the debt crisis in Greece amid fears Portugal, Spain and Ireland, with weak public finances, may also be unable to deliver on promises to cut their deficits.

Greek customs and tax officials have already begun a 48-hour strike in protest at planned austerity measures. The debt crisis has prompted a rush to the perceived safety of the U.S. dollar, which in turn pressured commodity prices.

The Canadian dollar ended up 0.24 of a cent to 93.46 cents US. Oil prices slipped a bit more after falling almost $4 US on Thursday.

The March crude contract on the New York Mercantile Exchange finished the day down another $1.95 US a barrel to $71.19 US. Crude plunged along $4 US a barrel on Thursday.

The April bullion contract on the Nymex closed down $10.20 to $1,052.20 US an ounce, following a near $50 US drop on Thursday.