CANADA STOCKS-TSX ends flat as oils offset weaker golds

Thu Feb 19, 2009 5:18pm EST
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* TSX ticks up 9 points, ends three-day retreat

* Energy sector up 3.3 pct as oil price climbs

* Gold miners slump as bullion retreats (Adds details, quote)

By Jennifer Kwan

TORONTO, Feb 19 (Reuters) - Toronto's main stock index managed to eke out a small gain on Thursday as energy issues strengthened on higher oil prices, managing to offset weaker gold miners, which retreated along with the price of gold.

The heavily weighted energy sector rose 3.3 percent, after two days of falls, as oil CLc1 prices soared more than 14 percent to above $39 a barrel on an unexpected fall in crude inventories. [ID:nSIN33588]

Suncor Energy SU.TO rose 7.9 percent to C$23.95 after the stock was upgraded by Barclays Capital. [ID:nBNG112489], Canadian Natural Resources CNQ.TO climbed 2.5 percent to C$40.36.

EnCana Corp ECA.TO rose 1.4 percent to C$50.09, and Petro-Canada PCA.TO climbed 3 percent to C$26.89.

The hefty financial services sector started the day in positive territory but fell back as concerns about the recession and the global banking sector weighed. Manulife Financial MFC.TO dropped 3.9 percent to C$14.50, while Bank of Montreal BMO.TO fell 2.3 percent to C$26.00. Royal Bank of Canada RY.TO bucked the trend, rising 3.5 percent at C$27.93.   Continued...