CANADA STOCKS-TSX choppy after upbeat GDP data

Fri Jan 29, 2010 11:09am EST
 
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* TSX up 0.33 percent at 11,311.20

* Energy sector up; Suncor leads gainers

* Royal Bank leads financials down

By Claire Sibonney

TORONTO, Jan 29 (Reuters) - Toronto's main stock index was little changed on Friday after surprisingly positive Canadian and U.S. GDP data was offset by weakness in financials.

Oil jumped to above $74 per barrel after data showed U.S. economy grew a faster than expected 5.7 percent in the fourth quarter, the quickest pace in more than six years.

Suncor Energy Inc (SU.TO: Quote), Canada's largest oil company, led the index gainers, adding 1.14 percent at C$34.73, after a boost in commodity prices.

"We're still in that area where financials, materials and oil and gas are the three areas where we have heavy weightings," said John Kinsey, a portfolio manager at Caldwell Securities.

On the downside, Royal Bank of Canada (RY.TO: Quote), the country's largest financial institution, was the top decliner, down 0.73 percent at C$53.09.   Continued...