* TSX up 15.42 points, or 0.12 percent, at 13,178.95
* Royal Bank of Canada slides as results disappoint
* Weak U.S. dollar helps push up oil, gold (Updates to close, adds details)
By Jennifer Kwan
TORONTO, Dec 3 (Reuters) - Toronto’s main stock index rose for a fifth straight session on Friday as a weak U.S. dollar pushed up commodity prices, but soft quarterly results from Royal Bank of Canada (RY.TO) crimped the gain.
Gold-mining stocks were among the big risers. Barrick Gold (ABX.TO) rose 1.2 percent to C$54.22, while Kinross Gold (K.TO) rallied 3 percent to C$18.79 as gold prices jumped to above $1,400 an ounce as weak U.S. jobs data cast doubt on the strength of the economic recovery. [GOL/]
Suncor Energy (SU.TO) climbed 1.5 percent to C$36.24 and Encana (ECA.TO) climbed 0.7 percent to C$28.64 as oil prices rallied for a third day on Friday, boosted in part by a weaker U.S. dollar. [O/R] [FRX/]
Gains were hindered by the index’s weak financials, which finished down 0.8 percent.
Royal Bank reported a drop in quarterly profit on higher costs, lower trading revenues and weakness at its U.S. retail bank. Shares of the country’s biggest bank skidded 4.4 percent to C$53.25. [ID:nN03286521]
Bruce Latimer, trader at Dundee Securities, said the market’s largely subdued performance reflected an investor pause after four days of gains.
“The market had a good rally the first two days of December so I think we’re just sort of digesting and consolidating those gains,” he said.
The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE ended the session up 15.42 points, or 0.12 percent, at 13,178.95. It gained 2 percent on the week.
Bucking the trend in the financials sector was Bank of Nova Scotia (BNS.TO), which climbed 3.1 percent to C$55.63 after it reported a quarterly profit that rose 21 percent. [ID:nN01163503]
Toronto stocks moved in tandem with U.S. equities, which also finished the day slightly higher.
U.S. jobs data kept the U.S. stock market move in check, however. U.S. employment barely rose in November and the jobless rate unexpectedly hit a seven-month high, disappointing those who had thought the U.S. economy was accelerating after a soft patch in the summer. [.N] [ID:nN02238002]
In Canada, the employment numbers were also disappointing with fewer than expected jobs created in November. The unemployment rate fell but that was attributed to more youth leaving the job market. [ID:nN03271210]
$1=$1.004 Canadian Reporting by Jennifer Kwan; editing by Peter Galloway