August 26, 2010 / 8:46 PM / 7 years ago

CANADA STOCKS-TSX gains on resource issues, RBC weighs

* TSX up 5.06 points, or 0.04 percent, at 11,653.18

* Strength in gold mining issues push TSX up

* Royal Bank weighs after results miss forecasts (Updates to close, adds quotes)

By Jennifer Kwan

TORONTO, Aug 26 (Reuters) - Toronto’s main stock index ended marginally higher on Thursday on firmness in resource issues, but disappointing results from Royal Bank of Canada (RY.TO) limited gains.

Fighting to push the market higher were gold miners, which climbed even as bullion prices were slightly lower. Barrick Gold (ABX.TO) rose 1.8 percent to C$48.82 and Goldcorp (G.TO), which climbed 2.8 percent to C$45.85, helping to push up the broader materials group by 0.9 percent. [GOL/]

Energy shares rose 0.3 percent as oil prices climbed on a modest improvement in U.S. jobs data and a weaker greenback. [O/R]

Also helping to keep the TSX above water was National Bank of Canada (NA.TO), a top net gainer, which soared 4.2 percent to C$58.00 after it posted better than expected results. [ID:nN26182091]

The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE finished the day up just 5.06 points, or 0.04 percent, at 11,653.18. Six of its 10 main sectors were higher.

National’s strong performance was in contrast to Royal Bank of Canada‘s. Shares of the country’s biggest bank dropped 3.4 percent to C$48.95 after it reported quarterly profit that fell 18 percent, missing analyst estimates, as weak trading activity ate into capital markets income. [ID:nN26176305]

That pressured the broader financials index, which was off 0.8 percent and the leader on the downside.

“RBC is a big weighting on the index and they had disappointing earnings, so that’s the biggest market impact on the negative side,” said Francis Campeau, a broker at MF Global Canada, in Montreal.

Elsewhere, Toronto-Dominion Bank (TD.TO) fell 0.9 percent, Canadian Imperial Bank of Commerce (CM.TO) dropped 1 percent and Bank of Nova Scotia (BNS.TO) climbed 0.1 percent.

$1=$1.06 Canadian Reporting by Jennifer Kwan

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