CANADA STOCKS-TSX edges lower as financials drag

Tue May 12, 2009 5:26pm EDT
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* TSX slips 0.16 pct to 10,094.12

* Golds shine, financials dull

* Index moves in wide range of 9,970.26 to 10,193.08 (Adds details, comments)

By Ka Yan Ng

TORONTO, May 12 (Reuters) - Toronto's main stock index closed little changed on Tuesday as the hefty energy and financial groups lost ground, but were offset by strength in the mining-heavy materials group.

The S&P/TSX composite index .GSPTSE fell 16.44 points, or 0.16 percent, to close at 10,094.12 after a session made volatile as swings in oil prices shook energy shares. The index moved in a wide range, falling more than 1 percent to as low as 9,970.26 and rising more than 1 percent as high as 10,193.08.

The materials group held convincingly in positive territory all session, finishing up 4.12 percent, as the price of gold and other metals rallied. The gold price ended 1 percent higher as a weaker U.S. dollar and a bigger U.S. trade deficit bolstered the status of bullion as an alternative investment. [ID:nLB171894]

Gold miners were the key movers to the upside. Barrick Gold ABX.TO rose 3.75 percent to C$40.62, while Goldcorp G.TO gained 4.88 percent to C$39.31. Kinross Gold K.TO, Agnico-Eagle AEM.TO, and Yamana Gold YRI.TO were also among the top 10 advancers.

Fertilizer producer Potash Corp of Saskatchewan POT.TO, part of the materials component, led all movers higher, rising 5.92 percent to C$117.29.   Continued...