October 26, 2011 / 3:28 PM / 7 years ago

CANADA STOCKS-TSX slips on euro uncertainty, RIM down

* TSX off 15.10 points, or 0.1 pct, to 12,094.45

* RIM sags 5 pct on PlayBook software delay

* CN Railway up 2 percent after earnings gain (Updates with details, comments)

By Claire Sibonney

TORONTO, Oct 26 (Reuters) - Toronto’s main stock index was little changed in wobbly trade on Wednesday morning, as concerns about the outcome of a summit on Europe’s debt crisis offset encouraging U.S. economic data and North American earnings.

Research In Motion RIM.TO was among the big decliners, dropping 5.3 percent to C$21.38, after the BlackBerry maker said a software upgrade for its PlayBook tablet had been delayed until February, months behind schedule. [ID:nN1E79P0NF]

Other weighty decliners were Yamana Gold (YRI.TO), off 5.1 percent to C$15.01, and Potash Corp POT.TO, down 1.1 percent to C$48.69.

Base-metal miners were higher as copper prices rallied, with First Quantum Minerals (FM.TO), up 3.3 percent at C$17.77. [MET/L]

Canadian National Railway Co (CNR.TO) was the most influential gainer, rising 2 percent to C$76.60, after reporting a 19 percent jump in quarterly profit late on Tuesday. [ID:nN1E79J1VA]

Rogers Communications (RCIb.TO) moved ahead 2.1 percent to C$36.27 after it posted a slightly higher adjusted profit, helped mainly by strength in its wireless unit. [ID:nL3E7LQ1XX]

“The earnings are coming through and they’re sort of right in line with expectations but the common theme is people are cautious about making strong projections going forward,” said Peter Chandler, senior vice-president and director at Canaccord Wealth Management.

At 11:07 a.m. (1507 GMT), the Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE was down 15.10 points, or 0.12 percent, to 12,094.45.

Prospects that a European summit on Wednesday would produce a comprehensive deal to resolve the euro zone debt crisis looked dim, with deep disagreements on critical aspects, including how to give the region’s bailout fund greater firepower. [ID:nLDE79O03J]

“Markets are very efficient mechanisms for pricing things. The thing that markets have the most difficulty with is not knowing what the news is,” added Chandler, noting that stocks would stay stuck in their range until investors get more concrete information.

Heightening investor anxiety at home, the Bank of Canada cut domestic economic growth forecasts sharply on Tuesday citing concerns about Europe and a struggling U.S. economy. [ID:nN1E79O14B]

On the U.S. data front, demand for a range of long-lasting manufactured goods recorded its biggest gain in six months in September, cementing views of a step-up in economic growth in the third quarter and suggesting the year’s final quarter started with some momentum. [ID:nN1E79P0F6]

U.S. new home sales in September also rose, though prices fell. [ID:nCAT005540]

In other company news, Pacific Rubiales PRE.TO fell 2.5 percent to C$23.75 after the oil firm threatened to suspend operations at its Campo Rubiales oil fields if the Colombian government fails improve protection from illegal armed groups and violent protests. [ID:nN1E79O27B]

$1=$1.02 Canadian Reporting by Claire Sibonney; editing by Rob Wilson

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