CANADA STOCKS-TSX reverses big fall to end little changed

Tue May 25, 2010 4:48pm EDT
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* TSX closes 3.27 points, or 0.03 pct, lower at 11,518.08

* Index fell more than 2 pct early in the session

* Oil and gas shares weigh on TSX

* Golds advance on safety bid (Updates to close, adds quote)

By Jennifer Kwan

TORONTO, May 25 (Reuters) - Toronto's main stock index ended only slightly lower on Tuesday after a sharp fall early in the day as surging gold mining shares cushioned a drop in the oil and gas sector on worries that Europe's banking problems could derail global economic recovery.

Gold miners rose as bullion prices climbed on safe-haven buying, and by the end of the day energy and financial shares had trimmed early losses.

Barrick Gold (ABX.TO: Quote) gained 4.4 percent to C$45.30, while Goldcorp (G.TO: Quote) rose 5.2 percent to C$45.61. Kinross (K.TO: Quote) was up 3.5 percent at C$18.21, and Yamana Gold YRI.TO climbed 5.7 percent to C$11.21.

Heavyweight movers on the downside included Suncor Energy (SU.TO: Quote), down 1.7 percent at C$30.66, while Canadian Natural Resources (CNQ.TO: Quote) sank 1.1 percent at C$34.30. Also lower was Royal Bank of Canada (RY.TO: Quote), the country's biggest lender, down 0.82 percent at C$58.99, and Bank of Nova Scotia (BNS.TO: Quote), which fell 0.14 percent at C$49.43.   Continued...