CANADA STOCKS-TSX hits 3-week high as golds, RIM lead way

Tue Nov 30, 2010 11:01am EST
 
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*TSX up 0.78 pct at 12,996.62

* RIM surges about 6 pct on analysts' upgrades

* U.S. data offsets disappointing Canada GDP figure (Adds details throughout)

TORONTO, Nov 30 (Reuters) - Toronto's main stock index pushed to a three-week high on Tuesday morning as gold-mining shares and Research In Motion rose, pushing aside concerns over soft third-quarter Canadian GDP numbers and euro zone debt woes.

All 10 of the index's sectors were higher, led by a 1.9 percent gain in the materials group with gold miners rallying as euro zone jitters pushed gold to a 2-1/2 week

Strong advancers included Barrick Gold (ABX.TO: Quote), up 2.9 percent to C$52.65, while Kinross (K.TO: Quote) rose 1.6 percent to C$17.94.

The infomation tech group, up more than 2 percent, was supported by Research In Motion RIM.TO, which soared 5.8 percent to C$63.51 on analysts' upgrades. [ID:nWNAB5701] [RCH/CA]

The BlackBerry maker is also about to take the next step in mobile computing as it puts the finishing touches on its new PlayBook tablet, due to be released early next year. [ID:nN29230611] [ID:nN27231916]

At 10:28 a.m. (1528 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was at its highest point since Nov. 9, up 100.97 points, or 0.78 percent, at 12,996.62.   Continued...