CANADA STOCKS-TSX steady as Iran deal lifts banks, hits resources
* TSX falls 2.62 points, or 0.02 percent, to 13,475.70 * Seven of the 10 main index sectors advance * Saputo climbs on enhanced bid for Australian dairy * BlackBerry jumps 2 percent after executive shakeup By John Tilak TORONTO, Nov 25 (Reuters) - Canada's main stock index was little changed on Monday after a deal aimed at restricting Iran's nuclear program boosted the financial sector but weighed on natural resource shares. Also stirring the market, BlackBerry Ltd shares jumped after the company announced another shakeup in the executive suite. Much of the focus, though, stayed on the breakthrough accord that was announced Sunday between Iran and six major world powers, and its aftermath, with U.S. President Barack Obama looking to persuade Israel of the agreement's merit and moves being made to try to turn the interim deal into a comprehensive one. "It's a step in the right direction. It sounds like they're making some headway," said David Cockfield, managing director and portfolio manager at Northland Wealth Management. "The background of the equity markets remains positive," he said, noting that there is still plenty of cash that needs to be put to work. "While institutions have been reasonably active in putting money back into the market, the retail side is still sitting on the sidelines." The Toronto Stock Exchange's S&P/TSX composite index was down 2.62 points, or 0.02 percent, at 13,475.70. Seven of the 10 main sectors on the index were higher. Shares of financial companies gained 0.3 percent, with Toronto-Dominion Bank adding 0.2 percent to C$97.95, and Bank of Nova Scotia rising 0.4 percent to C$66.40. Oil prices dropped after the Iran deal, weighing on shares of energy producers. Suncor Energy Inc gave back 1.7 percent to C$37.30 and had the biggest negative influence on the index. Canadian Natural Resources Ltd lost 2 percent to C$34.11. "It's potentially a longer-term negative for (energy stocks) with more Iranian production coming back on," Cockfield said of the deal. Gold-mining stocks shed 1.3 percent after the bullion price hit a four-month low early in the session. Goldcorp Inc declined 1.9 percent to C$23.84, and Barrick Gold Corp fell 1.3 percent to C$16.99. Detour Gold Corp dropped 21.3 percent, to C$3.36, after the miner said Chief Executive Gerald Panneton had resigned. BlackBerry said two top executives were departing and a third was replaced in a widely expected shakeup following this month's naming of a new chief executive, and that more changes were coming. The stock gained 2 percent to C$6.64. Saputo Inc declared its A$505 million ($463 million) bid for Warrnambool Cheese and Butter Factory Co unconditional and said it would hike its offer if it won control of Australia's oldest dairy. Shares of the Canadian company rose 0.8 percent to C$48.95.
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