CANADA STOCKS-TSX flat, hurt by weakness in banks, oil and gas
* TSX up 10.78 points, or 0.07 percent, at 14,480
* Banks and energy shares weigh
* Index on track for 1.8 pct fall on week (Adds portfolio manager's comment, details, updates prices)
By Alastair Sharp
TORONTO, Dec 5 (Reuters) - Canada's main stock index was flat on Friday, rattled by lusterless bank earnings and continued weakness in oil and gas shares, a day after its biggest single-day drop in 18 months.
Shares in Bank of Nova Scotia lost 2 percent to C$66.24 after Canada's No. 3 lender reported a weaker-than-expected quarterly profit on previously announced charges related to soured bets in the Caribbean and Latin America.
Other banks whose results have failed to impress also slipped. Toronto-Dominion Bank was down 0.7 percent at C$53.67 and Canadian Imperial Bank of Commerce was off 1.3 percent at C$102.18.
"Somewhat lackluster (bank) earnings growth and concerns on weaker capital markets and loan growth," combined with rich valuations to disappoint investors, said Philip Petursson, portfolio advisory group at Manulife Asset Management.
National Bank of Canada and Royal Bank of Canada were the only two of the country's Big Six banks to have met or exceeded market expectations for fourth-quarter profits. Continued...