CANADA STOCKS-TSX ekes out tiny gain, aided by Fed plan

Tue Nov 25, 2008 5:25pm EST
 
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*Technology shares slump 3 pct; RIM falls 8 pct

*Financials rise on U.S. Fed plan to aid consumer lending

*TD Bank drops 4.7 pct after equity offering

*Several miners suspend operations, materials lower (Adds closing figures, quotes, details)

TORONTO, Nov 25 (Reuters) - After two days of big rises, the Toronto Stock Exchange's main index eked out a slim gain on Tuesday as firmness in financial shares due to a U.S. Federal Reserve plan to aid consumer lending offset weakness in technology and materials issues.

In choppy activity, the index traded in a range of nearly 300 points from top to bottom. For most of the day it was in negative territory.

"It's been a bit of a bun toss here today after both Toronto and New York being so strong the last two days," said Bruce Latimer, trader at Dundee Securities. "There's one camp that seems to feel the rally will continue and one camp that seems to think there is some profit-taking today."

The S&P/TSX composite index .GSPTSE was up 1.99 points, or 0.02 percent, at 8,442.86, with six of its 10 main groups higher. On Friday, the index rose 5.6 percent and on Monday it was up 3.5 percent.

Toronto-Dominion Bank TD.TO was down 4.7 percent at C$40.89 after it said late Monday it sold common shares worth C$1.2 billion to reassure investors about its capital strength. [ID:nN24527304].   Continued...