CANADA STOCKS-TSX ends flat as RIM, Potash rally
* TSX down 6.32 points, or 0.05 percent, at 13,395.99
* Five of 10 main groups decline
* RIM, Potash, Manulife lead gains (Adds details, comments)
By Solarina Ho
TORONTO, Jan 5 (Reuters) - Toronto's main stock index closed little changed on Wednesday, recovering from earlier losses with the help of advances by Research In Motion RIM.TO and Potash Corp. (POT.TO: Quote)
Soft commodity prices helped keep pressure on the resource-heavy index throughout the session, which saw the materials group retreat 0.48 percent.
Barrick Gold (ABX.TO: Quote) fell another 3.39 percent to C$49.84 after Tuesday's 2.88 percent as gold prices extended their decline amid further profit-taking and a strong U.S. dollar. [GOL/]
Kinross Gold (K.TO: Quote) slipped 2.21 percent to C$17.74 while Goldcorp (G.TO: Quote) declined 1.26 percent to C$43.94.
The energy group pared earlier declines to finish down a modest 0.15 percent as oil prices bounced back above $90 a barrel on stronger than expected U.S. economic data. [ID:nN05600530] [O/R]
"Often times when you turn the calendar to the new year, people want to do something different... but I think (the winners) are going to continue to win here," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier.
"The materials, the golds are having a pause here, but I think they'll do well for the balance of the year."
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE finished down 6.32 points, or 0.05 percent, at 13,395.99.
"It's awfully resilient, all things considered. We had a big run up to the end of the year and one would've thought we'd have a bigger selloff ... it's come back a fair bit," said Nakamoto.
Five of the index's 10 main groups ended lower, but helping offset the declines was a 1.1 percent rise among technology stocks, mostly powered by Research In Motion, which was up 4.54 percent at C$61.70.
Potash shares climbed 3.53 percent to C$161.50 as the fertilizer giant was bolstered by strong quarterly profit from fellow producer Mosaic Co. (MOS.N: Quote) [ID:nN05218018]
Manulife Financial Corp (MFC.TO: Quote) was another influential gainer, rising 2.95 percent to C$17.78.
Canada's largest insurer, which has struggled since the 2008 market crash, said it shorted C$5 billion of equity futures contracts in the fourth quarter of 2010 to protect itself from market swings. [ID:nSGE70409S]
The overall financial group eked out a 0.03 percent gain.
($1=$1.00 Canadian) (Reporting by Solarina Ho; editing by Rob Wilson)
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