CANADA STOCKS-TSX rises on U.S, data, RIM drops

Mon Nov 2, 2009 10:51am EST
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* TSX up 0.33 percent at 10,947.09

* U.S. data lifts sentiment, reverses early slide

* Gold producers lead rise

* RIM drops on Citigroup downgrade (Adds details)

By Ka Yan Ng

TORONTO, Nov 2 (Reuters) - Toronto's main stock index turned positive on Monday morning after encouraging U.S. economic data overcame weakness stemming from a downgrade of Research In Motion RIM.TO.

Several gold producers were providing some offset to the drag from RIM, with Barrick Gold ABX.TO and Agnico Eagle AEM.TO gaining as the price of gold erased most of last week's losses, rising above $1,050. [GOL/]

Barrick rose 2.3 percent to C$39.84, while Agnico jumped 4.8 percent to C$60.34. Goldcorp G.TO was the top heavyweight gainer, up 3.8 percent to C$41.30. Overall, the key materials group, home to gold miners, was up more than 2 percent.

The other two major sectors of the Toronto index, financials and oil and gas, both turned higher after a troika of stronger-than-expected U.S. economic data.   Continued...