CANADA STOCKS-TSX snaps six-day runup, ends week higher

Fri Jun 18, 2010 5:09pm EDT
 
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 * TSX slips 0.15 pct to end at 11,927.59
 * Snaps six-session advance, ends week up 2.2 pct
 * Nine of the index's 10 main groups fall
 * Record gold price limits TSX decline
 (Updates to close)
 TORONTO, June 18 (Reuters) - Toronto's main stock index
ended slightly lower on Friday but record bullion prices that
sent gold-mining shares higher kept a lid on otherwise
broad-based losses across nearly all sectors.
 Nine of the index's 10 main groups finished lower, though
the losses were mostly slim, with key groups such as energy and
financials showing drops of 0.2 percent and 0.04 percent,
respectively.
 Among decliners were Imperial Oil (IMO.TO: Quote), down 1.6
percent at C$40.67, while Suncor (SU.TO: Quote) lost 0.78 percent to
C$34.44. Other decliners included Sun Life (SLF.TO: Quote), down 1.05
percent at C$30.21, and Manulife Financial (MFC.TO: Quote), off 0.6
percent at C$16.54.
 The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE finished down for the first time after a six-day
advance. It was off 18.38 points, or 0.15 percent, at
11,927.59. For the week, the index is up 2.2 percent.
 "It's been an aimless day, no conviction in either
direction," said Elvis Picardo, analyst and strategist at
Global Securities in Vancouver, British Columbia.
 "The TSX is approaching 12,000 so that might be a modest
level of resistance. Hopefully we get through that barrier next
week."
 The materials sector was the lone advancer, up 0.64
percent, mostly backed by the advancing gold issues. Gold
rallied to a record high above $1,260 an ounce as momentum
triggered by buying of the metal as a haven from sovereign and
financial risk pushed prices through technical resistance.
[GOL/]   
 World No. 1 gold producer Barrick Gold (ABX.TO: Quote) climbed
1.97 percent to C$47.01 and fellow gold miner Goldcorp (G.TO: Quote)
rose 0.78 percent to C$46.51.
 ($1=$1.02 Canadian)
 (Reporting by Ka Yan Ng; Editing by Mario Di Simine )