UPDATE 3-Toronto stocks eke out gain on materials, RIM

Thu Dec 20, 2007 4:32pm EST
 
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(Updates with official closing numbers, adds details)
 TORONTO, Dec 20 (Reuters) - The Toronto Stock Exchange's
main index ended with a small gain on Thursday as an advance in
materials and Research In Motion helped offset a slide in
banking shares.
 The materials group added 1.3 percent, pulled higher by net
gain leader Potash Corp of Saskatchewan POT.TO, which was up
C$7.95, or 6.4 percent, at C$131.96.
 But the gold subsector was off 0.6 percent as gold prices
slipped on the firmer U.S. dollar. Yamana Gold Inc YRI.TO
fell 33 Canadian cents, or 2.8 percent, to C$11.61, and Barrick
Gold ABX.TO was down 24 Canadian cents, or 0.6 percent, at
C$37.40.
 Research In Motion RIM.TO gained C$4.43, or 4 percent, to
C$106.52, lifting the tech sector 0.6 percent, ahead of the
BlackBerry-maker's quarterly results.
 After the closing bell, RIM beat expectations on its
third-quarter profit, but delivered a subscriber outlook that
fell short of what analysts had predicted.
 The S&P/TSX composite index .GSPTSE closed up 17.19
points, or 0.13 percent, at 13,407.01 with seven of the TSX's
10 main groups higher. The index has had small gains for two
days in a row, but has closed lower in four out of six
sessions.
 On the downside, the banking sector lost 1 percent as North
American financial stocks were rattled by a
larger-than-expected loss from U.S. investment bank Bear
Stearns Cos Inc BSC.N.
 As well, MBIA Inc MBI.N, the world's largest bond
insurer, said it has exposure to $30.6 billion in complex
mortgage securities that it insures. The amount is larger than
its entire net worth.
 In Toronto, all of the major banks declined, including
Toronto-Dominion Bank TD.TO, which fell C$1.20, or 1.7
percent, to C$68.85.
 Canadian Imperial Bank of Commerce CM.TO was down 63
Canadian cents, or 0.9 percent, at C$70.51 the day after it
warned of the possibility of a "large charge" in its
first-quarter results on its exposure to the U.S. subprime
market.
 ($1=$1.00 Canadian)
 (Reporting by Leah Schnurr; editing by Janet Guttsman)