CANADA STOCKS-TSX lower as bank shares unloaded

Wed Dec 9, 2009 10:51am EST
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 * TSX down 0.33 percent, at 11,331.70
 * Bank shares down, commodities rise
 (Adds details, comments)
 By Irene Kuan
 TORONTO, Dec 9 (Reuters) - Toronto's main stock index was
lower on Wednesday morning as shares of Royal Bank of Canada
and other banks dropped on yearend profit-taking, more than
offsetting the boost the index got from stronger commodity
 Shares of Canada's No. 1 bank, Royal Bank of Canada
(RY.TO: Quote), fell 1.63 percent to C$54.33, while Toronto-Dominion
Bank (TD.TO: Quote) was down 1.83 percent at C$64.74.
 Bank of Nova Scotia (BNS.TO: Quote), which reported earnings on
Tuesday that analysts felt did not build on strong results from
rival banks last week, was down 1.22 percent at C$47.03.
 "There's some profit-taking in the financial sector because
it's acted well the past few days," said Bruce Latimer, trader
at Dundee Securities.
 "I don't think investors want to risk any of the gains
they've made this year, and if anything, they may be trimming
some positions to get ready for next year."
 Oil and gold prices rallied for the first time on Wednesday
after several days of losses as the U.S. dollar weakened.
 Shares of world No. 1 gold miner Barrick Gold (ABX.TO: Quote) were
up 0.96 percent at C$43.50, while rival Goldcorp (G.TO: Quote) rose
1.52 percent to C$42.86.
 At 10:25 a.m. (1525 GMT), the S&P/TSX composite index
.GSPTSE was down 37.23 points, or 0.33 percent, at
 ($1=$1.06 Canadian)
 (Reporting by Irene Kuan; editing by Peter Galloway)