August 31, 2010 / 8:49 PM / 8 years ago

CANADA STOCKS-Golds lift TSX in uncertain session

* TSX up 18.31 points, or 0.15 percent, at 11,913.86

* RIM drops 5.5 percent after brokerage survey

* Half of TSX’s 10 main sectors higher (Updates to close, adds quote)

By Jennifer Kwan

TORONTO, Aug 31 (Reuters) - Toronto’s main stock index ended slightly higher on Tuesday on strength in gold miners, as bullion prices climbed on broader uncertainty about the economic recovery.

Barrick Gold (ABX.TO), the world’s No. 1 producer, rose 1.5 percent to C$49.95, while Goldcorp (G.TO) was up nearly 2 percent at C$47.30. [GOL/]

Despite the higher close, however, investors remained generally uncertain about the fragile recovery after minutes of the U.S. Federal Reserve’s policy meeting, said Elvis Picardo, an analyst and strategist at Global Securities in Vancouver.

The outlook for the U.S. economy would have to deteriorate “appreciably” to spur fresh support from the Federal Reserve, the minutes released on Tuesday showed. [ID:nN31253959]

“That news comes at a times when investors are already very skittish, already very nervous about the prospects of U.S. economic growth,” said Picardo.

The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE finished the day up 18.31 points, or 0.15 percent, at 11,913.86, with half of the index’s 10 main groups higher. The TSX ended the month up 1.7 percent.

On the downside the hefty energy sector was off 0.6 percent, with Suncor Energy (SU.TO) sliding 1.9 percent to C$32.31 and Canadian Natural Resources (CNQ.TO) down 0.7 percent at C$34.30.

Oil prices slid as traders positioned ahead of weekly inventory reports that are forecast to show U.S. crude stocks rose last week. [O/R]

Financials sagged 0.1 percent, with Bank of Nova Scotia (BNS.TO) down 1.3 percent at C$51.25 after it posted a higher quarterly profit but came in slightly below expectations. [ID:nN31226185]

Research In Motion RIM.TO tumbled 5.5 percent to C$45.70 after a brokerage survey suggested the company was under threat as its corporate customers may soon abandon the BlackBerry in favor of the Apple (AAPL.O) iPhone or Andriod-based (GOOG.O) smartphones. [ID:nSGE67U0GH]

$1=$1.07 Canadian Reporting by Jennifer Kwan; editing by Rob Wilson

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