CANADA STOCKS-TSX flat as fears on Europe offset Rogers earnings

Tue Jul 24, 2012 11:39am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX up 2.69 points at 11,548.23

* Rogers Communications results boost index

* China PMI data lifts mining shares

* Weak euro zone data, Germany fears weigh

By Jon Cook

TORONTO, July 24 (Reuters) - Canada's main stock index was little changed on Tuesday as solid earnings from telecoms leader Rogers Communications Inc and upbeat China data were offset by euro zone fears, including a potential credit ratings downgrade for Germany.

Despite a dip by most of Canada's 10 main sectors, the index hovered near break even. The safe-haven telecommunications sub-index led gains, rising 1.6 percent after earnings from Rogers Communications, Canada's largest mobile phone company, beat expectations.

Rogers Communications shares jumped 5.4 percent to C$39.25 after it reported higher adjusted earnings on Tuesday as profit margins rose in its cellular phone business even as competition picked up.   Continued...