CANADA STOCKS-TSX flat in choppy trade; euro zone, RIM eyed

Tue Jul 12, 2011 11:21am EDT
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   * TSX up 1.82 points at 13,181.57
 * Golds offset broader weakness in other sectors
 * RIM to hold shareholder meeting later in day
 (Adds details)
 TORONTO, July 12 (Reuters) - Toronto's main stock index was
little changed on Tuesday morning as gold mining issues
benefited from a flight to safety and helped offset weakness in
other sectors.
 Trading on the TSX was volatile, seesawing on either side
of the unchanged mark through the morning, with the market
largely driven by macroeconomic factors, particularly euro zone
debt worries.
 At 10:45 a.m. (1445 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was up 1.82 points, or 0.01
percent, at 13,181.57. The slim gain came a day after the index
posted its biggest one-day fall in more than a month.
 Half of the TSX's 10 main sectors were higher, led by a 0.6
percent rally in the influential materials group, home to gold
 Worries that the euro zone debt crisis may spread drove
investors away from riskier assets, but gold-mining stocks were
sought in a move to find safe havens amid uncertainty.
 Goldcorp G.TO pushed up 1.1 percent to C$49.35, while
Barrick Gold ABX.TO gained 0.85 percent to C$44.85. Kinross
Gold K.TO advanced 1.5 percent to C$16.01.
 European officials for the first time refused to rule out a
debt default by Greece and investors feared the crisis could
overtake the bigger economies of Spain and Italy.
 "We've got some very nervous markets here. I think people
just don't understand what's going to happen in Europe," said
John Kinsey, portfolio manager at Caldwell Securities Ltd.
 "They don't know how far this can spread and how deep it
can cut, so that's really the bottom line."
 A mix of blue-chip energy and financial names led the
decliners. Royal Bank of Canada RY.TO slipped 0.44 percent to
C$53.78, while Suncor Energy SU.TO fell 0.6 percent to
C$38.07. Toronto-Dominion Bank TD.TO lost 0.23 percent to
 Kinsey added that the U.S. debt ceiling impasse was not
helping sentiment. President Barack Obama and congressional
leaders, struggling to break a logjam over taxes and spending
cuts, will regroup on Tuesday to seek common ground for a deal
to avoid a U.S. debt default.
 Research In Motion RIM.TO will likely be on investors'
radar as well, as the BlackBerry maker holds its annual
shareholder meeting later in the day. [ID:nN1E767100]
 Separately, RBC Capital Markets said RIM should split
itself in two to accelerate innovation and unlock shareholder
value. RIM was up 0.74 percent at C$27.40. [ID:nN1E76B0AF]
 ($1=$0.97 Canadian)
 (Reporting by Solarina Ho and Ka Yan Ng; editing by Rob