April 27, 2012 / 2:47 PM / 7 years ago

CANADA STOCKS-TSX wavers as U.S. data, Europe fears weigh

* TSX up 6.73 points at 12,152.58
    * Materials offset weakness in energy, financials

    By Claire Sibonney	
    TORONTO, April 27 (Reuters) - Canada's main stock index
wavered on Friday after hitting its highest level in a week, as
confidence over some solid North American earnings was tempered
by weaker-than-expected U.S. growth data and persistent worries
about the health of the European economy. 	
    Materials were stronger, up 0.4 percent, as the other two
weighty sectors, energy and financials, traded flat.	
    Gold miner Agnico Eagle was one of the most
influential stocks, soaring 8 percent to C$38.13 after reporting
a 73 percent increase in its quarterly profit late on Thursday,
driven largely by gains in the price of bullion. 	
    "The golds are a little bit better ... Agnico Eagle had
pretty good numbers. Goldcorp numbers yesterday were a little
weak but I think there's some bottom fishing coming into these
names here," said Bruce Latimer, trader at Dundee Securities.	
    Goldcorp was up 0.1 percent at C$38.10.	
    Other key gainers included Cenovus Energy, which
rose 1.8 percent to C$34.60, while Barrick Gold 
advanced 1 percent to C$39.72.	
    "Whether you're a producer or a developer or an explorer,
they've all been pretty weak the last few weeks, so they're
trying to find a bottom and it looks like some money is coming
into them," added Latimer.	
    At 10:30 a.m., (1430 GMT), the Toronto Stock Exchange's
S&P/TSX composite index was up 6.73 points, or 0.06
percent, at 12,152.58.	
    Potash Corp fell 1.7 percent to C$41.52, while
Suncor Energy lost 0.5 percent to C$31.33.	
    Wall Street's rally also stalled, despite strong earnings
from Amazon.com Inc and Ford Motor Co, as market
gains were limited after U.S. economic growth cooled more than
forecast in the first quarter.  	
    Meanwhile, fears over the health of the European economy
kept nagging investors after a downgrade of Spain's sovereign
debt, though a smooth Italian bond auction helped to balance
    Imax Corp sank 6 percent to C$22.75 after the giant
movie screen maker's quarterly net profit missed estimates.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below