TSX little changed, but gains for 6th week in row

Fri Jan 27, 2012 5:28pm EST
 
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By Jennifer Kwan

TORONTO (Reuters) - Canada's main stock index ended little changed on Friday, supported by firmness in materials and technology issues, but weaker than expected U.S. economic data kept it under pressure through the day.

The United States, the world's biggest economy, grew at a pace that fell short of economists' forecasts. That fueled worries about U.S. growth in 2012 and added to expectations that the Federal Reserve would need to provide more help.

"The optimism in the new year is still there, even though the news out of the U.S. in terms of the economic growth was weaker than expected," said Marcus Xu, director of equity investments at Genus Capital Management in Vancouver .

"On the other hand, we emphasize there hasn't been any major news out of the euro zone. At this point, no news is good news."

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE finished the session up 2.18 points, or 0.02 percent, at 12,466.50, with just two of its 10 main sectors higher.

Materials rose 1.5 percent and information technology climbed 1.2 percent.

The index was up 0.6 percent for the week, rising for the sixth week in a row.

Key stocks on the upside included Potash Corp (POT.TO: Quote), up 3.5 percent at C$47.58, and Barrick Gold (ABX.TO: Quote), which climbed 1 percent to C$49.46. <GOL/>   Continued...