CANADA STOCKS-TSX lower on resources, mixed data

Tue Jul 27, 2010 11:20am EDT
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* TSX down 13.09 points at 11,732.98

* Six of 10 sectors lower (Updates with details, commentary)

By Claire Sibonney

TORONTO, July 27 (Reuters) - Toronto's main stock index was lower in choppy trading on Tuesday as optimism over fresh batch of solid corporate earnings was offset by mixed U.S. economic data and weakness in resource issues.

Weighing on the resource-heavy index, gold mining stocks slid 2.1 percent as growing investor confidence in the economic recovery dented the metal's safe-haven appeal. [GOL/]

Barrick Gold Corp (ABX.TO: Quote) fell 2.4 percent to C$42.10, while Goldcorp Inc (G.TO: Quote) lost 2.4 percent to C$40.61.

Bruce Latimer, a trader at Dundee Securities, also pointed to a gold option expiry on Tuesday that will increase volatility in the sub-sector.

Technology stocks were 2 percent lower, led by Research In Motion RIM.TO, down 2.3 percent at C$55.87.

The United Arab Emirates said on the weekend that the BlackBerry poses security risks, raising fears of censorship and concerns that other Gulf countries might consider curbing the use of certain applications on the smartphone. [ID:nLDE66O07I]   Continued...