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: Quote) and Agnico Eagle (AEM.TO: Quote) 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: Quote) 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...