CANADA STOCKS-TSX little changed as Potash gains, gold slides

Mon Dec 7, 2009 11:27am EST
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 * Erases early 65-point skid
 * Potash Corp up 3.04 percent at C$127.75
 (Adds details and comments)
 By Irene Kuan
 TORONTO, Dec 7 (Reuters) - Toronto's main stock index
traded little changed on Monday morning as shares of fertilizer
makers, including Potash Corp POT.TO, rose after upgrades
while gold miners followed bullion prices lower.
 Shares of Potash Corp, the world's largest fertilizer
maker, rose 3.04 percent to C$127.75 after a Goldman Sachs
upgrade. Rival Agrium also rose 4.03 percent to C$63.44 after a
UBS upgrade. [ID:nN07161495]
 "The whole sector is becoming more favorable amongst
investors," said Ian Nakamoto, director of research at
MacDougall, MacDougall & MacTier, referring to fertilizer
 "It was down in the dumps, the fertilizer stocks in
particular in the last year, and I think it's one sector that
has moved recently, but still lags the overall market."
 On the flip-side, Canada's No. 1 gold miner Barrick Gold
ABX.TO was the largest drag on the index, down 3.28 percent
at C$43.62. Goldcorp G.TO was down 2.64 percent at C$43.48.
 Gold prices fell 2 percent in Europe on Monday on selling
prompted by the U.S. dollar's rise to a five-week high versus
the euro following above-consensus jobs data in the United
States last week. [GOL/]
 At 11:15 a.m. (1615 GMT), the S&P/TSX composite index
.GSPTSE was down 3.87 points, or 0.03 percent, at 11,505.93.
Earlier, it had fallen as much as 65 points.
 (Reporting by Irene Kuan; editing by Jeffrey Hodgson)