CANADA STOCKS-TSX little changed, focus on gold miners

Tue Apr 19, 2011 11:09am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

   * TSX up 5.70 points at 13,708.03
 * Six of the index's 10 main groups were lower
 (Updates with details, comments)
 By Solarina Ho
 TORONTO, April 19 (Reuters) - Toronto's main stock index
was little changed on Tuesday morning, taking a breather after
it dived to its lowest point in a month on Monday and ahead of
the Easter holiday on Friday.
 Gold miners were in focus with Barrick Gold (ABX.TO: Quote) down
1.09 percent at C$51.02 and Kinross Gold (K.TO: Quote) off 1.98
percent at C$14.38 as record-high gold prices eased modestly
after failing to break above $1,500 an ounce. [GOL/]
 "People are watching the golds, seeing if it can make an
assault on $1,500. If it makes that, the big question is, will
it hold it, or will it pull back?" said Bruce Latimer, a trader
at Dundee Securities.
 Diversified miner Teck Resources TCKb.TO jumped 5.86
percent to C$51.62 after the company posted earnings late on
Monday that were nearly double those reported a year earlier
and beat expectations. [ID:nN19132006] [ID:nN18242433]
 The index's hefty materials group, home to mining
companies, was up 0.27 percent.
 At 10:23 a.m. (1423 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was up 5.70 points at
13,708.03. Six of its 10 main groups were lower.
 "It's just consolidating, and you've got a quiet, short
week," Latimer said.
 The energy group, which makes up roughly a quarter of the
index, was up 0.07 percent. Nexen NXY.TO slipped 1.17 percent
to C$21.92, while Imperial Oil (IMO.TO: Quote) rose 1.23 percent to
 "People would like to see the oil price continue to come
off a little bit because higher oil prices do not help the
overall economy. It affects the spending power of people and
it's not going to stimulate demand," Latimer said.
 Technology issues were down 0.58 percent, dragged lower by
Research In Motion, which was off 1.87 percent at C$51.85. The
maker of the BlackBerry launched its PlayBook on Tuesday in
hopes to win customers away from Apple's dominant iPad tablet
computer. [ID:nN19146402]
 ($1=$0.96 Canadian)
 (Editing by Peter Galloway)