April 19, 2011 / 3:13 PM / 8 years ago

CANADA STOCKS-TSX little changed, focus on gold miners

   * TSX up 5.70 points at 13,708.03
 * Six of the index’s 10 main groups were lower  (Updates with details, comments)
 By Solarina Ho
 TORONTO, April 19 (Reuters) - Toronto’s main stock index was little changed on Tuesday morning, taking a breather after it dived to its lowest point in a month on Monday and ahead of the Easter holiday on Friday.
 Gold miners were in focus with Barrick Gold (ABX.TO) down 1.09 percent at C$51.02 and Kinross Gold (K.TO) off 1.98 percent at C$14.38 as record-high gold prices eased modestly after failing to break above $1,500 an ounce. [GOL/]
 “People are watching the golds, seeing if it can make an assault on $1,500. If it makes that, the big question is, will it hold it, or will it pull back?” said Bruce Latimer, a trader at Dundee Securities.
 Diversified miner Teck Resources TCKb.TO jumped 5.86 percent to C$51.62 after the company posted earnings late on Monday that were nearly double those reported a year earlier and beat expectations. [ID:nN19132006] [ID:nN18242433]
 The index’s hefty materials group, home to mining companies, was up 0.27 percent.
 At 10:23 a.m. (1423 GMT), the Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE was up 5.70 points at 13,708.03. Six of its 10 main groups were lower.
 “It’s just consolidating, and you’ve got a quiet, short week,” Latimer said.
 The energy group, which makes up roughly a quarter of the index, was up 0.07 percent. Nexen NXY.TO slipped 1.17 percent to C$21.92, while Imperial Oil (IMO.TO) rose 1.23 percent to C$49.37.
 “People would like to see the oil price continue to come off a little bit because higher oil prices do not help the overall economy. It affects the spending power of people and it’s not going to stimulate demand,” Latimer said.
 Technology issues were down 0.58 percent, dragged lower by Research In Motion, which was off 1.87 percent at C$51.85. The maker of the BlackBerry launched its PlayBook on Tuesday in hopes to win customers away from Apple’s dominant iPad tablet computer. [ID:nN19146402]  ($1=$0.96 Canadian)  (Editing by Peter Galloway)                                        

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