CANADA STOCKS-TSX little changed after Greek deal

Mon Feb 13, 2012 12:28pm EST
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(Adds details, analyst comments)

* TSX ahead 4.98 points at 12,394.40

* Energy shares rise, materials lag

* Greece approves austerity deal, but worries remain

By Jon Cook

TORONTO, Feb 13 (Reuters) - Canadian stocks were flat at midday on Monday as energy issues rose after Greece approved a controversial austerity bill to secure a second bailout, but the TSX's gains were held in check as the European Union still had to approve the deal.

Athens must convince a skeptical euro zone that it will stick to the terms of the deal in order to secure the 14.5 billion euros it needs to meet debt repayments due on March 20.

"Sometimes last-minute conditions are attached to it and things can still fall apart," said Carlos Leitao, chief economist at Laurentian Bank Securities.

"A deal is better than no deal, but let's keep the champagne in the fridge."   Continued...