CANADA STOCKS-TSX reverses big fall to end little changed

Tue May 25, 2010 5:10pm 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 (Adds details, 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 energy shares 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 gained 4.4 percent to C$45.30, while Goldcorp G.TO rose 5.2 percent to C$45.61. Kinross K.TO was up 3.5 percent at C$18.21, and Yamana Gold YRI.TO climbed 5.7 percent to C$11.21.

The index was able to find support at around its 200-day moving average of around 11,500, a technical level closely watched by strategists, said Jean-Francois Dion, vice president and portfolio advisor, Canadian equities, at RBC Dominion Securities.   Continued...