CANADA STOCKS-TSX flat as weak golds offset positive sentiment

Mon Jul 26, 2010 10:51am EDT
 
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* TSX up 7.14 points at 11,721.35

* Seven of 10 sectors higher (Adds details, comments)

By Claire Sibonney

TORONTO, July 26 (Reuters) - Toronto's main stock index was little changed on Monday morning as strong U.S. earnings and economic data boosted investor optimism, but gains were capped by a sharp decline in gold-mining issues.

The market mood was buoyed by U.S. data showing sales of new single-family homes rebounded strongly in June from the prior month's record low. [ID:nN23137243]

"We didn't move that much on it but we're making a one-month high in the S&P500, so that's a positive," said Francis Campeau, broker at MF Global Canada.

Economically sensitive financial issues gained 0.5 percent, with Bank of Montreal (BMO.TO: Quote) rising 1.4 percent to C$62.63 and Toronto-Dominion Bank (TD.TO: Quote) adding 0.6 percent to C$72.34.

The home sales data also helped oil prices turn positive, driving the TSX's powerhouse energy stocks 0.5 percent higher.

Suncor Energy (SU.TO: Quote) was up 0.4 percent at C$33.51 and Canadian Oil Sands Trust COS_u.TO rose 1.4 percent to C$29.39.   Continued...