CANADA STOCKS-Cameco surge keeps TSX near break-even mark

Tue Oct 20, 2009 5:04pm EDT
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* TSX ends flat, down 0.27 of a point at 11,538.12

* Gold, oil prices off highs, Barrick, Suncor pressured

* Cameco jumps on force majeure reports at BHP mine

By Ka Yan Ng

TORONTO, Oct 20 (Reuters) - Toronto's main stock index closed little changed on Tuesday, propped up by a late surge by Cameco Corp (CCO.TO: Quote) on the possibility of a jump in uranium prices after early strength in Barrick Gold (ABX.TO: Quote) and other gold miners dissipated on lower gold prices.

Most of the heavyweight action was in resource-based issues as prices for gold and oil, key drivers of the commodity-heavy TSX, came off recent highs. [GOL/] [O/R]

Canadian Natural Resources (CNQ.TO: Quote) topped all decliners, falling 2 percent to C$76.66, while fellow oil company Suncor (SU.TO: Quote) fell 0.7 percent to C$39.87. The price of oil retreated from a one-year high over $80 a barrel.

Gold slipped below $1,060 an ounce and drove Barrick down 1.1 percent to C$39.66, making it the third biggest heavyweight decliner on the index.

Offsetting the drag from oils and golds was uranium producer Cameco, the top gainer. It climbed more than 6 percent following a newspaper report of force majeure being declared at a major BHP Billiton (BLT.L: Quote) (BHP.AX: Quote) uranium mine. [ID:nN20447345]   Continued...