CANADA STOCKS-TSX ends higher for 3rd day as golds rebound

Wed Apr 21, 2010 5:08pm EDT
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* TSX up 0.17 percent at 12,134.56

* Materials lead the way with gold producers (Updates with details)

TORONTO, April 21 (Reuters) - Toronto's main stock index finished moderately higher in volatile trading on Wednesday, thanks to rebounding gold shares and a late afternoon turnaround by financials.

The index's weighty materials sector gained 0.62 percent as gold prices rose on safe-haven buying due to renewed concerns about the fiscal health of Greece. [GOL/] [MET/L]

Gold-mining stocks recorded solid gains, reversing Tuesday's losses, as Barrick Gold Corp (ABX.TO: Quote), the world's largest producer, rose 1.18 percent to C$39.49, while Goldcorp Inc (G.TO: Quote) jumped 1.93 percent to C$39.53.

Shares of Teck Resources TCKb.TO, the country's largest base-metals miner, finished unchanged at C$41.71 after the company reported its first-quarter profit more than tripled. [ID:nN20129089].

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE finished up 21.03 points, or 0.17 percent, at 12,134.56. Five of its 10 main sectors were higher, four were lower, and one was unchanged.

Trading held to a narrow range but seesawed throughout the session, kept in check by the offsetting push and pull of forecast-beating corporate results and worries over the Greek debt crisis. [ID:nLDE63K1M7] [ID:nLDE63K1I9] [MKTS/GLOB]

"That's why when you have those two forces there, you get a narrow range," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier.   Continued...