CANADA STOCKS-TSX edges lower as golds weigh

Fri Apr 3, 2009 4:44pm EDT
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* TSX slips 7.38 points to 9,065.76

* Gold-miners fall with bullion price

* RIM rally helps cushion broader retreat (Adds details, comments and official numbers)

By Frank Pingue

TORONTO, April 3 (Reuters) - Toronto's main equity index slipped on Friday as an improved tone in the global economy weighed on gold prices and rattled mining issues.

The retreat ended a three-day winning streak on the TSX, but the index still recorded its fourth-straight weekly gain and remained close to three-month highs.

Actions agreed to earlier this week at the G20 summit in London sparked fresh optimism for global growth and weighed on the price of gold -- traditionally a safe-haven for nervous investors -- yanking gold-mining stocks down 7 percent.

Shares of Barrick Gold Corp (ABX.TO: Quote), the main drag on the overall index, fell 6.8 percent to C$37.31, while Goldcorp (G.TO: Quote) followed with a slide of 5.8 percent to C$38.10.

Helping to cushion the slide was a sharp rally by shares of BlackBerry maker Research In Motion RIM.TO, which rallied 19 percent to C$72.80 a day after it delivered a solid quarterly profit and offered a rosy outlook. [ID:nN02275379]   Continued...