CANADA STOCKS-TSX falls with financials, oils, but Potash up

Wed Feb 3, 2010 10:59am EST
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* TSX off 0.11 percent at 11,396.07

* Gold miners gain, financials ease

* Potash Corp shares gain as BPC raises potash prices (Adds details)

By Ka Yan Ng

TORONTO, Feb 3 (Reuters) - Toronto's main stock market index was lower on Wednesday morning as a rally in Potash Corp (POT.TO: Quote) shares was offset by weakening financial and energy shares.

On the downside, Suncor Energy (SU.TO: Quote) fell 1.77 percent to C$32.26, while Royal Bank of Canada (RY.TO: Quote) lost 0.63 percent to C$53.46.

Potash Corp of Saskatchewan led all heavyweight risers, up more than 4 percent at C$115.02, after Russian potash exporter BPC raised spot prices for the crop nutrient by more than 6 percent. [ID:nLDE6120XC] [ID:nN03149519]

"There's not a lot of movement in any one sector, except maybe materials getting a little strength to Potash Corp. But you back out Potash Corp and it's essentially a noneventful day," said Gareth Watson, an equity advisor at ScotiaMcLeod.

He said financials may be taking a "time out" after participating in the market rally on Monday and Tuesday.   Continued...