November 18, 2009 / 9:46 PM / 8 years ago

RPT-CANADA STOCKS-TSX ends higher for fourth straight session

 (Refiles to fix typo in headline)
 * TSX ends up 22.69 points at 11,652.69
 * Ekes out small gain after touching 13-month high
 (Updates to close, adds quote)
 By Jennifer Kwan
 TORONTO, Nov 18 (Reuters) - Toronto's main stock index
ended slightly higher on Wednesday, but was off its highest
levels of the day as investors took a break after early buying
sent the resource-heavy index to a 13-month high.
 Influential names on the upside included Potash Corp of
Saskatchewan POT.TO, up 3 percent at C$120.00, and
Toronto-Dominion Bank TD.TO, which rose 1.2 percent to
 While the market managed to eke out gains at the session's
close, it hovered around the break-even level for most of the
 "The market has done very well here in the past couple of
weeks," said Levente Mady, market strategist at Union
Securities in Vancouver.
 "Certainly, you can make the argument that it is a little
overdone and due for a pause. The fact that we're going
sideways as opposed to pulling back decisively certainly is
constructive market action."
 The S&P/TSX composite index .GSPTSE finished the day up
22.69 points, or 0.2 percent, at 11,652.69. Earlier, it rose 72
points to 11,702.24, which marked its highest level since
October 2008.
 Energy and gold-mining stocks, which helped power the early
rally, were among the later drags on the index as many
investors ignored higher oil and gold prices. [O/R] [GOL/]
 Influential names on the downside included Barrick Gold
ABX.TO, which dropped 2.9 percent to C$46.10, and Suncor
Energy SU.TO, down 0.8 percent at C$38.56.
 Also weighing on the market was Research In Motion
RIM.TO, which dropped 2 percent to C$63.25. BMO Capital
Markets downgraded the BlackBerry maker to "market perform"
from "outperform," citing concerns about its 2011 earnings.
 ($1=$1.05 Canadian)
 (Reporting by Jennifer Kwan; editing by Rob Wilson)

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