CANADA STOCKS-TSX rides gold-miners, banks to higher close

Fri Mar 13, 2009 5:05pm EDT
 
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* Index rises 21.12 points to 8,303.39

* Gold-mining shares behind latest TSX gain

* TSX ends week with gain of 9.4 percent (Adds details and comments)

By Frank Pingue

TORONTO, March 13 (Reuters) - Toronto's main stock index ended a volatile session with a slight gain on Friday as shares of gold-miners rallied around higher bullion while financials continued to take comfort on news that the U.S. banking sector is finding stability.

After a massive three-day rally where the index surged 9.5 percent, investors decided to take their foot off the gas pedal in the latest session.

But a push higher by gold-mining stocks was enough to carry the overall index a slim gain as a weaker U.S. dollar helped boost demand for the yellow metal.

Gold XAU= also firmed to around $928 an ounce on a combination of technical buying and fears that a Swiss example would lead to a series of currency devaluations.

Goldcorp (G.TO: Quote) headlined the latest TSX gain as its shares rose 3.7 percent to close at C$37.84, followed by Barrick Gold (ABX.TO: Quote), whose shares ended up 2.6 percent at C$37.89.   Continued...