CANADA STOCKS-TSX edges higher as golds gain

Tue Feb 15, 2011 4:54pm EST
 
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   * TSX up 18.58 points, or 0.13 percent, at 13,929.35
 * Seven of the 10 main groups rise
 * Index hovers near 31-month highs
 (Updates with details, comment)
 By Solarina Ho
 TORONTO, Feb 15 (Reuters) - Toronto's main stock index
finished modestly higher on Tuesday, with gains among gold
companies offsetting declines among other miners.
 Barrick Gold ABX.TO rose 1.35 percent to C$48.66, while
Goldcorp G.TO gaining 1.7 percent to C$43.56.
 Bullion prices roses to a four-week high as inflation
concerns sparked a technical breakout. The precious metal also
found support as Chinese inflation data came in lower than
expected, easing concerns that the world's second-largest
economy would have to tighten its monetary policy. Lower
interest rates tend to support gold buying. [GOL/]
 Offsetting the golds' gains was a decline among base-metals
and fertilizer companies. Potash Corp POT.TO came off its
recent run and gave back 3.39 percent to C$60.63. U.S. grain
prices fell as sentiment turned bearish amid overbought
conditions.
 First Quantum Minerals FM.TO slumped 4.15 percent to
128.15, while Teck Resources TCKb.TO shed 1.36 percent to
C$58.00.
 Copper prices fell from record highs, posting their biggest
one-day slide in three weeks. A day after a bullish 5.7 percent
rise in Chinese copper imports, worries about the Asian
country's ability to sustain its rate of growth resurfaced.
[MET/L] [ID:nTOE71D037]
 The overall materials group, home to a broad spectrum of
miners, was up marginally, gaining 0.13 percent.
 The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE finished 18.58 points, or 0.13 percent higher, at
13,929.35. Seven of the 10 main groups advance.
 "The overall index is sort of ho-hum," said Ian Nakamoto,
director of research at MacDougall, MacDougall & MacTier.
 "We're talking about relatively minor changes within each
company ... it's hard to make a headline story."
 The index hovered around 31-month highs and inched closer
to the 14,000-point level.
 ($1=$0.99 Canadian)
 (Reporting by Solarina Ho; editing by Rob Wilson)