June 23, 2010 / 8:41 PM / 7 years ago

CANADA STOCKS-TSX tips higher in choppy session

2 Min Read

* TSX edges up 0.08 percent to finish at 11,807.50

* Rising materials offset by declining financials (Adds details, official closing figures)

By Ka Yan Ng

TORONTO, June 23 (Reuters) - Toronto's main stock index was slightly higher on Wednesday at the end of a choppy session marked by disappointing data and mixed commodity prices.

Gold companies, despite soft gold prices, were the main source of strength in the materials group, which was up 1.21 percent to lead six advancing sectors of the index's 10 main groups.

Goldcorp (G.TO) added 2.79 percent to C$46.41, while Barrick Gold (ABX.TO) was up 0.96 percent to C$46.46. Kinross Gold (K.TO) gained 2.1 percent to C$18.92.

But a sharp decline in the financials group, which was off 0.9 percent, limited the overall index's gains. Canada's five biggest banks were all lower, with Royal Bank of Canada (RY.TO) down 1.21 percent at C$53.75.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE finished up 9.56 points, or 0.08 percent, to finish at 11,807.50.

"Today people are really sitting on the fence and with such thin volumes, it's a very, very tough market to predict," said Michael Sprung, president at Sprung & Co. Investment Counsel.

Early weakness was largely fueled by data that added to worries of a slowing economic recovery. Canadian retail sales in April dropped by a much sharper than expected 2.0 percent from March, while U.S. sales of new homes fell a record 32.7 percent in May to the lowest level in at least four decades. [ID:nN23208380] [ID:nN23196800]

($1=$1.04 Canadian)

Reporting by Ka Yan Ng; Editing by Mario Di Simine

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