September 30, 2009 / 9:11 PM / 8 years ago

CANADA STOCKS-TSX little changed, ends quarter up 9.8 pct

 * TSX ends flat after see-saw session
 * Rises in September for seventh straight month
 * Ends quarter with 9.8 percent gain  (Adds details, comments and official numbers)
 By Frank Pingue
 TORONTO, Sept 30 (Reuters) - Toronto’s main stock index closed little changed on Wednesday as a handful of weaker energy and technology players kept the index from adding to already hefty quarterly and monthly gains.
 Shares of oil company EnCana Corp (ECA.TO) fell 1 percent to C$62.00 and were the biggest weight on the index, followed by shares of BlackBerry maker Research In Motion RIM.TO, which ended down 1.4 percent at C$72.38.
 A see-saw performance on the TSX that led to its first lower close for the week was attributed largely to investors making last-minute adjustments to their portfolios before closing the books of the month and quarter.
 “You just got some people taking advantage of the fact that there is some buying out there and so they are selling into the strengths of some of these names,” said Bruce Latimer, trader at Dundee Securities.
 “So it’s just people positioning things for the month end. They probably took profits in some good names and maybe put a little money to work in names that haven’t performed yet.”
 Among index sectors helping to keep the TSX from sliding in the session was the materials group, home to gold miners, which rose 0.12 percent as the price of gold reclaimed $1,000 an ounce on a weaker greenback. [GOL/]
 Shares of Yamana Gold (YRI.TO) rose 1.86 percent to C$11.52 while Agnico-Eagle (AEM.TO) rose 1 percent to C$72.41.
 The S&P/TSX composite index .GSPTSE ended almost unchanged at 11,394.96. The TSX ended the month up 4.8 percent and rose 9.8 percent for the quarter.
 The flat close followed data released early in the day that showed Canada’s economy stagnated in July, raising some doubts about whether gross domestic product would return to solid growth in the third quarter. [ID:nN30211709]
 A Reuters poll released on Wednesday offered a median forecast that Canada’s main stock index will finish 2009 with a gain of nearly 30 percent as its heavy weighting in commodity and energy stocks benefits from further signs of economic recovery. [ID:nLT394850]
 ($1=$1.07 Canadian)   (Editing by Peter Galloway)                                      

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