CANADA STOCKS-TSX edges higher as gold miners rise

Mon Aug 16, 2010 4:46pm EDT
 
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*TSX up 24.51 points, or 0.21 percent, at 11,552.76

*Six of TSX's 10 main sectors higher

*RIM, down 4.6 percent, weighs on index (Updates to close, adds details)

By Jennifer Kwan

TORONTO, Aug 16 (Reuters) - Toronto's main stock index ended slightly higher on Monday as gold miners got a boost from strong bullion prices, which climbed on persistent concern about the pace of economic recovery.

Gold rose to a 1-1/2 month high on Monday, gaining for a third consecutive session, after gloomy Japanese economic data prompted safe-haven buying by investors worried about the global economy. [GOL/] [MKTS/GLOB] For details, see [ID:nTOE67901S]

Barrick Gold (ABX.TO: Quote), the world's No. 1 gold producer, rose 1.8 percent to C$45.59, while fellow miner Goldcorp (G.TO: Quote) was up 2.2 percent at C$42.25.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE finished the day up 24.51 points, or 0.21 percent, at 11,552.76 with six of its 10 main sectors higher.

Economic concerns kept the TSX at the break-even level for most of the day, mimicking Friday's cautious market performance, said David Baskin, president of Baskin Financial Services Inc.   Continued...