CANADA STOCKS-TSX slides for third straight session

Thu Dec 16, 2010 5:21pm EST
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 * TSX falls 0.36 percent to 13,181.23
 * Resources main drag
 * RIM reports 45 pct jump in profit, after-market shrs up
 (Updates to close)
 TORONTO, Dec 16 (Reuters) - Toronto's main stock index
finished lower for a third straight session on Thursday,
dragged down by weaker commodity prices, which weighed on
gold-mining and energy shares.
 Key decliners included Agnico-Eagle (AEM.TO: Quote), down 5.73
percent at C$76.16, while Barrick Gold (ABX.TO: Quote) fell 1.48
percent to C$51.97. Suncor Energy (SU.TO: Quote) lost 1.19 percent to
C$36.48, and Nexen NXY.TO dropped 2.27 percent to C$21.53.
 U.S. crude oil futures prices settled lower on Thursday due
to concerns about the euro zone economy and amid signs of
year-end position squaring, while gold prices slid on
profit-taking. [GOL/][O/R]
 Six of the Toronto index's 10 main groups were lower, led
down by a 1.13 percent drop in the materials group. The energy
group fell 0.39 percent.
 The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE closed down 47.84 points, or 0.36 percent, at
13,181.23, but recovered from its lowest level in more than two
weeks, hit earlier in the session.
 "We're seeing a little bit of continuation of weakness from
yesterday. It looks like there's some (credit) tightening
concerns out of Asia...That's creating a little bit of pressure
on a lot of commodity names. We're also seeing a little bit of
profit-taking into the year-end," said Youssef Zohny, associate
portfolio manager at Van Arbor Asset Management.
 After the market close, BlackBerry-maker Research In Motion
RIM.TO reported a 45 percent jump in net profit, boosted by
strong sales of its flagship Torch smartphone. Its shares rose
2.5 percent to $60.75 in after-hours trade. [ID:nN16269441]
 "A lot of investors came into RIM earnings a little bit
cautious. They've been disappointing over the last couple of
years, but it seems like they beat on the top line and the
bottom line," Zohny said.
 Baffinland Iron Mines BIM.TO was the most heavily traded
stock, rising 3.2 percent to C$1.28. Nunavut Iron, backed by
private equity, raised its hostile takeover bid for Baffinland
by 69 percent, topping an offer from the world's No. 1
steelmaker, ArcelorMittal, as the two companies compete for an
iron ore deposit that is said to be big enough to supply all of
Europe. [ID:nN16206372]
 ($1=$1.01 Canadian)
 (Reporting by Solarina Ho and Ka Yan Ng; editing by Peter