CANADA STOCKS-TSX flat after earlier hitting 13-month high

Wed Nov 18, 2009 1:52pm EST
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 * TSX down 8.91 points at 11,621.09
 * Energy and gold-mining shares turn around
 TORONTO, Nov 18 (Reuters) - Toronto's main stock index was
little changed on Wednesday as investors opted to pocket gains
recorded early in the session that had sent the resource-heavy
index to a 13-month high alongside a rise in commodity prices.
 Energy and gold-mining stocks, which helped power the early
rally, were among the key drags on the index as many investors
ignored higher oil and gold prices.
 Barrick Gold ABX.TO shares, the main drag on the index,
were down 2.8 percent at C$46.14, while Goldcorp G.TO dropped
1.6 percent to C$46.06.
 Among energy companies weighing on the index were Suncor
Energy SU.TO, down 0.5 percent at C$38.68, and Canadian
Natural Resources CNQ.TO, off 0.9 percent at C$71.69.
Shares of Research In Motion RIM.TO dropped 2.5 percent to
C$62.91 after BMO Capital Markets downgraded the BlackBerry
maker to "market perform" from "outperform," citing concerns
about its 2011 earnings. [ID:nBNG462185]
 At 1:35 p.m. (1835 GMT) the S&P/TSX composite index
.GSPTSE was down 8.91 points, or 0.08 percent, at 11,621.09.
Earlier, it rose 72 points to 11,702.24, which marked its
highest level since October 2008.
 Fergal Smith, a managing market strategist at Action
Economics said the TSX will struggle to sustain its penetration
of the session high as long as the Standard & Poor's 500 Index
.SPX remained under pressure.
 U.S. stocks were under pressure given on unexpected fall in
new U.S. home construction, which sparked worries about the
strength of an economic recovery. [ID:nN1899353]
 ($1=$1.06 Canadian)
 (Reporting by Frank Pingue)