CANADA STOCKS-TSX little changed as financials, techs rise

Tue Apr 27, 2010 11:20am EDT
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* TSX up 0.3 percent at 12,315.50 at 10:46 a.m.

* Banks, techs, telecoms lead rebound

* Research In Motion adds to Monday's gains

By Claire Sibonney

TORONTO, April 27 (Reuters) - Toronto's main stock index was little changed on Tuesday morning, paring earlier losses in a rally by financial, technology and telecoms issues.

Heavily weighted financial shares gained 0.4 percent as Royal Bank of Canada (RY.TO: Quote), the country's biggest lender, added 0.5 percent to C$62.51 and No. 2 Toronto-Dominion Bank (TD.TO: Quote) rose 0.2 percent to C$76.81.

"You're seeing a little bit of positive sentiment on a lot of the financials yesterday and today," said Youssef Zohny, associate portfolio manager at Van Arbor Asset Management in Vancouver.

On Tuesday, Royal Bank was upgraded to "outperform" from "market perform" by BMO Capital Markets, while Genuity Capital Markets raised its price targets for all of Canada's six big banks. [ID:nSGE63P0Q0] [ID:nWNA9499]

Research in Motion RIM.TO was also among the top gainers as its shares rose 1.9 percent to C$74.25, extending gains from the day before, after the BlackBerry maker gave analysts a sneak peek at a revamped operating system for its smartphones and said it would launch it next quarter. [ID:nN26178007]   Continued...