April 21, 2010 / 8:47 PM / 9 years ago

RPT-CANADA STOCKS-TSX ends higher for 3rd day in seesaw session

(Refiles to show in first bullet and paragraph 4 that index closed at 12,134.56 not 12,1134.56)

* TSX up 0.17 percent at 12,134.56

* Materials lead the way with gold producers (Updates to close)

TORONTO, April 21 (Reuters) - Toronto’s main stock index finished moderately higher in volatile trading on Wednesday, thanks to rebounding gold shares and a late afternoon turnaround by financials.

The index’s weighty materials sector gained 0.62 percent as gold prices rose on renewed concerns about the fiscal health of Greece. [GOL/] [MET/L]

Gold-mining stocks recorded solid gains, including Barrick Gold Corp (ABX.TO), the world’s largest producer, up 1.18 percent at C$39.49, while Goldcorp Inc (G.TO) jumped 1.93 percent to C$39.53.

The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE finished up 21.03 points, or 0.17 percent, at 12,134.56. Five of its 10 main sectors were higher, four were lower, and one was unchanged.

Trading held to a narrow range but seesawed throughout the session, kept in check by the offsetting push and pull of forecast-beating corporate results and worries over the Greek debt crisis. [ID:nLDE63K1M7] [ID:nLDE63K1I9] [MKTS/GLOB]

“That’s why when you have those two forces there, you get a narrow range,” said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier.

“It’s almost like a tug-of-war at a picnic where the rope stays exactly the same. It doesn’t mean nothing is happening, but the two forces are about equal.”

Strong earnings from natural gas producer EnCana Corp (ECA.TO), U.S. blue chips Apple (AAPL.O) and Morgan Stanley (MS.N) tipped the balance to more upbeat sentiment, which took the TSX to a third straight higher close. [.N] [ID:nN21161034]

Powerhouse financials were also slightly higher, up 0.33 percent. Royal Bank of Canada (RY.TO), the country’s biggest lender, gained 0.41 percent to C$61.56.

$1=$1.00 Canadian Reporting by Ka Yan Ng; editing by Rob Wilson

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