CANADA STOCKS-TSX rises slightly in seesaw session

Wed Apr 21, 2010 1:14pm EDT
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*TSX up 0.2 percent at 12,136.90

*Materials, financials lead index higher (Updates prices, adds quotes, details)

By Claire Sibonney

TORONTO, April 21 (Reuters) - Toronto's main stock index was slightly higher in volatile trading at midday on Wednesday with gains kept in check by falling commodity prices and as profit-taking undermined the impact of robust North American earnings.

The index's weighty materials sector gained 0.6 percent even as gold prices trimmed gains and base metal prices fell as the U.S. dollar made safe-haven gains due to renewed concerns about the fiscal health of Greece. [GOL/] [MET/L]

Shares of Teck Resources TCKb.TO, the country's largest base-metals miner, added 0.8 percent to C$42.03, after the company reported its first-quarter profit more than tripled. [ID:nN20129089].

Gold-mining stocks were up more than 1 percent. Barrick Gold Corp (ABX.TO: Quote), the world's largest bullion producer, shot up 1.5 percent to C$39.62, and Goldcorp Inc (G.TO: Quote) jumped 1.6 percent to C$39.40.

"I guess you're just seeing some movement in to the golds because that's probably one sector that's lagged in the last few weeks," said Bruce Latimer, a trader at Dundee Securities.

Powerhouse financials were also slightly higher. Royal Bank of Canada (RY.TO: Quote), the country's biggest lender, gained 0.1 percent to C$61.37, and Manulife Financial (MFC.TO: Quote), North America's largest life insurer, added 0.5 percent to C$19.69.   Continued...