CANADA STOCKS-Golds lift TSX in uncertain session

Tue Aug 31, 2010 4:48pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX up 18.31 points, or 0.15 percent, at 11,913.86

* RIM drops 5.5 percent after brokerage survey

* Half of TSX's 10 main sectors higher (Updates to close, adds quote)

By Jennifer Kwan

TORONTO, Aug 31 (Reuters) - Toronto's main stock index ended slightly higher on Tuesday on strength in gold miners, as bullion prices climbed on broader uncertainty about the economic recovery.

Barrick Gold ABX.TO, the world's No. 1 producer, rose 1.5 percent to C$49.95, while Goldcorp G.TO was up nearly 2 percent at C$47.30. [GOL/]

Despite the higher close, however, investors remained generally uncertain about the fragile recovery after minutes of the U.S. Federal Reserve's policy meeting, said Elvis Picardo, an analyst and strategist at Global Securities in Vancouver.

The outlook for the U.S. economy would have to deteriorate "appreciably" to spur fresh support from the Federal Reserve, the minutes released on Tuesday showed. [ID:nN31253959]

"That news comes at a times when investors are already very skittish, already very nervous about the prospects of U.S. economic growth," said Picardo.   Continued...