CANADA STOCKS-TSX posts slight gain despite RBC results

Fri Dec 3, 2010 4:54pm EST
 
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* TSX up 15.42 points, or 0.12 percent, at 13,178.95

* Royal Bank of Canada slides as results disappoint

* Weak U.S. dollar helps push up oil, gold (Adds company details)

By Jennifer Kwan

TORONTO, Dec 3 (Reuters) - Toronto's main stock index rose for a fifth straight session on Friday as a weak U.S. dollar pushed up commodity prices, but soft quarterly results from Royal Bank of Canada (RY.TO: Quote) crimped the gain.

Gold-mining stocks were among the big risers. Barrick Gold (ABX.TO: Quote) rose 1.2 percent to C$54.22, while Kinross Gold (K.TO: Quote) rallied 3 percent to C$18.79 as gold prices jumped to above $1,400 an ounce as weak U.S. jobs data cast doubt on the strength of the economic recovery. [GOL/]

Suncor Energy (SU.TO: Quote) climbed 1.5 percent to C$36.24 and Encana (ECA.TO: Quote) climbed 0.7 percent to C$28.64 as oil prices rallied for a third day on Friday, boosted in part by a weaker U.S. dollar. [O/R] [FRX/]

Gains were hindered by the index's weak financials, which finished down 0.8 percent.

Royal Bank reported a drop in quarterly profit on higher costs, lower trading revenues and weakness at its U.S. retail bank. Shares of the country's biggest bank skidded 4.4 percent to C$53.25. [ID:nN03286521]   Continued...