(Refiles to fix typo in headline)
* TSX ends down 0.15 percent at 11,344.11
* Miners lead slide; golds, oils also lower
* RIM, banks make late session surge
* U.S. Fed keeps rates steady, tone brighter (Adds details)
By Ka Yan Ng
TORONTO, Jan 27 (Reuters) - Toronto’s main stock index finished lower on weak resources on Wednesday, staving off a late-session rally by Research In Motion RIM.TO and financial shares.
Concerns about the global economic recovery, highlighted by Greece’s fiscal health and a drop in U.S. new home sales, and worries over demand for key commodities weighed on the resource-laden index, dragging down a host of blue-chip oil and gold producers. [ID:nN27177942]
Teck Resources TCKb.TO led the slide, falling 4.26 percent to C$37.05, followed by Suncor Energy Inc (SU.TO), down 0.91 percent at C$34.71.
Gold and oil prices were lower as the U.S. dollar hit a six-month high against the euro on concerns over Greece’s fiscal problems and lingering concerns about China’s recent credit-tightening steps. [GOL/][O/R].
The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE ended down 17.08 points, or 0.15 percent, at 11,344.11. Half of the index’s 10 main groups were lower, led by a 1.59 percent drop in the materials sector.
“A lot of it has to do with what’s going on in China, the perception of the tightening there. Until those jitters go away, it’ll probably be under pressure for a while,” said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier.
On the upside, all five of the country’s biggest banks were among the top influential advancers, adding to gains after the U.S. Federal Reserve voiced a cautious note of optimism on the U.S. economy. The U.S. central bank also stuck to its pledge to keep interest rates near zero for a while to ensure a sustainable recovery. [nFEDAHEAD]
The Fed announcement helped the TSX gain enough momentum to poke briefly into positive territory near the session’s end, before the weakness in resources, which make up nearly half the index’s weighting, took over.
RIM topped heavyweight gainers with a 3.92 percent rise to C$68.18, contributing to the market-leading 1.27 percent gain by the information technology sector. Contract electronics maker Celestica (CLS.TO) rose 1.35 percent to C$10.54, ahead of after-market news that it had returned to quarterly profit. [ID:nN27134251]
Thursday’s session will likely take at least some direction from U.S. President Barack Obama’s State of the Union address, scheduled to be broadcast at 9:00 p.m. tonight. [ID:nOBAMA] (Editing by Rob Wilson)