CANADA STOCKS-TSX little changed, bruised by Royal results

Fri Dec 3, 2010 10:53am EST
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* TSX little changed at 13,161.55

* Eight sectors lower, led by financials

* Materials, led by gold-mining issues, offset declines (Adds details)

TORONTO, Dec 3 (Reuters) - Toronto's main stock index was little changed on Friday morning as the impact of an unexpectedly weak U.S. jobs report and soft results from Royal Bank of Canada (RY.TO: Quote) was balanced by gains in materials shares.

Financials were the main drag, down 0.94 percent after Royal Bank reported a drop in quarterly profit. [ID:nN03286521] Royal, the country's biggest bank, was down 4.7 percent at C$53.09. Bank of Montreal (BMO.TO: Quote) fell 1.3 percent to C$60.03 and CIBC (CM.TO: Quote) was off 0.2 percent at C$79.13.

Bucking the trend, Bank of Nova Scotia (BNS.TO: Quote) advanced 1.5 percent to C$54.80 after it reported a quarterly profit that rose 21 percent. [ID:nN01163503]

"Bank of Nova Scotia exceeded expectations, led by the international markets, meaning if you're outside of North America, you're doing very well," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier.

"Royal Bank is more domestic and capital-markets-related.

After four straight rising sessions, the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was 1.98 points lower at 13,161.55.   Continued...