CANADA STOCKS-TSX inches up on gold price in muted trade

Tue Jan 19, 2010 5:11pm EST
 
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* S&P/TSX composite gains 0.11 percent to 11,763.42

* Gold miners benefit from uptick in bullion price

* Assortment of blue chips fall

* Bank of Canada holds rates steady, tweaks outlook (Adds details, quotes)

By Ka Yan Ng

TORONTO, Jan 19 (Reuters) - Toronto's main stock market index closed slightly higher on Tuesday as an uptick in bullion prices helped push up gold producers, but the move higher was offset by the drag of some falling blue chips.

The index's gold producing sub-sector .SPTTGD was up 1.2 percent with Barrick Gold (ABX.TO: Quote), the world's biggest gold miner, adding 1.46 percent to C$40.91.

Also among top advancers were gold miners Goldcorp (G.TO: Quote), up 1.69 percent at C$41.60, and Agnico-Eagle (AEM.TO: Quote), up 2.01 percent at C$59.98.

The index's materials group managed to gain 0.66 percent, mostly on the gold support, but it was pressured by individual names such as fertilizer producer Potash Corp (POT.TO: Quote), which dropped after UBS cut its share-price target. [ID:nWNAB5381]   Continued...