CANADA STOCKS-TSX higher on golds, banks; CN weighs

Wed Oct 21, 2009 11:19am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX rises 0.2 pct to 11,561.07

* CN Rail leads decliners despite forecast-beating results

By Ka Yan Ng

TORONTO, Oct 21 (Reuters) - Toronto's main stock index held higher on Wednesday morning as gold-mining and bank shares rose, overtaking weakness from Canadian National Railway CNR.TO.

Early trade was volatile, but strength in Barrick Gold ABX.TO, Potash Corp POT.TO, and Royal Bank of Canada RY.TO overcame weakness in CN Rail, which weighed on the market despite better than expected results.

Barrick led all notable advancers with a 2 percent gain to C$40.45, helped by a firmer price of gold above $1,055 an ounce.

Royal Bank was up 0.7 percent at C$56.94, while Potash Corp rose 1.8 percent to C$109.

CN Rail fell 2.2 percent to C$53.82 the day after the country's biggest railway repeated cautiously upbeat comments that the worst of the economic downturn was over, but also pointed out it still faced economic head winds. [ID:nN14246637]

At 11 a.m. (1500 GMT), the S&P/TSX composite index .GSPTSE was up 22.95 points, or 0.2 percent, at 11,561.07. At market open, the TSX dropped 55 points.   Continued...