CANADA STOCKS-TSX edges higher, led by energy shares

Thu Dec 10, 2009 12:12pm EST
 
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 * TSX up 0.28 percent at 11,411.17
 * Oil price lifts energy sector, gold shares drag
 * Gildan Activewear jumps after results
 (Adds details, comments)
 By Irene Kuan
 TORONTO, Dec 10 (Reuters) - Toronto's main stock index
edged higher on Thursday as energy issues gained on the back of
stronger oil prices, but weakness in gold miners, including
Barrick Gold ABX.TO, weighed on the market.
 Suncor Energy SU.TO rose 2.24 percent at C$36.44 while
Talisman Energy Inc  TLM.TO gained 2.46 percent to C$17.94
after crude moved back above $71 a barrel, recovering after
falling more than 2 percent in the previous session. [O/R]
 But market analysts warned buying interest and volumes were
thin, with many investors starting to wind down activity.
 "It's very hard as we go through next week. Liquidity sort
of dries up in the marketplace as we go into the later part of
December," said Paul Harris, portfolio manager at Avenue
Investment Management.
 "It's going to cause a damper on the marketplace and any
kind of big swing will not happen."
 At 11:40 a.m. (1640 GMT), the S&P/TSX composite index
.GSPTSE was up 31.95 points, or 0.28 percent, at 11,411.17.
 Also helping to lead the market higher was base metals and
coal producer Teck Resources TCKb.TO, which rose 2.88 percent
to C$37.50.
 North America's largest T-shirt maker, Gildan Activewear
Inc. GIL.TO  saw its share surge 10.74 percent to C$23.30,
after reporting its fourth-quarter profits nearly doubled,
helped mostly by lower manufacturing costs. [ID:nN10116253]
 But the gold sector weighed on the broader market as the
price of bullion traded below levels seen in New York late on
Wednesday. [GOL/]
 Barrick, the world's largest gold producer, fell 1.15
percent at C$43.02, while smaller rival Goldcorp Inc G.TO was
down 0.54 percent to C$42.74.
 In economic news, Canada unexpectedly returned to a trade
surplus in October after three months of deficits as exports to
the United States picked up steam. [ID: nN10154628]
 (Reporting by Irene Kuan; Editing by Jeffrey Hodgson)