* TSX down 11.30 points, or 0.09 pct, at 11,963.84
* Materials fall 0.8 pct, lead slide
* RIM rises 5.5 percent after analyst upgrade (Updates to close, adds quotes)
By Jennifer Kwan
TORONTO, March 8 (Reuters) - Canada’s main stock market index slipped on Monday, after touching its highest point in eight weeks, as weaker bullion prices weighed on gold producers.
Barrick Gold (ABX.TO) dropped 1.7 percent to C$40.84 and Kinross Gold (K.TO) fell 1.7 percent to C$19.36, as gold prices skidded 1 percent on technical selling and liquidation by investors of positions added last week to cushion currency volatility from the Greek debt crisis. [GOL/]
The weakness among golds helped drag down the broader materials sector, 0.8 percent.
The energy sector also notched a weaker finish, down 0.1 percent, even as oil prices were firmer [O/R], resulting in a mixed picture for the sector. Suncor Energy (SU.TO) rose 0.5 percent at C$32.03, while Canadian Natural Resources (CNQ.TO) dropped 0.4 percent to C$74.18.
The S&P/TSX composite index .GSPTSE was flat for most of the day, despite some early gains, and ended down 11.30 points, or 0.09 percent, at 11,963.84.
Shortly after the open the index hit 12,039.51 its highest level since Jan. 11. But the gains quickly evaporated.
“I think it may simply reflect the fact that we’ve had a pretty good run here of late,” said Bob Gorman, chief portfolio strategist at TD Waterhouse.
“You may have people taking a bit of a breather,” he said.
The TSX index rallied on Friday and finished the week at 11,975.14, its highest close since September 2008, as investors cheered U.S. employment data that offered more evidence of an economic recovery.
On the upside on Monday, Research In Motion RIM.TO leapt 5.5 percent to C$75.48 after an analyst upgraded the stock on expectations the BlackBerry maker will report strong quarterly results and issue a robust outlook.[CA-RCH]
The share price surged as worries about competitive threats to the smartphone maker started to recede. [ID:N08181449] The broader information technology sector was up 1.6 percent.
$1=$1.03 Canadian Reporting by Jennifer Kwan; editing by Rob Wilson