January 5, 2011 / 1:51 PM / 7 years ago

TSX ends flat as RIM, Potash rally

TORONTO (Reuters) - Toronto’s main stock index closed little changed on Wednesday, recovering from earlier losses with the help of advances by Research In Motion and Potash Corp.

<p>People walk by a Bay Street sign inside the financial district in Toronto October 10, 2008. REUTERS/Mark Blinch</p>

Five of the index’s 10 main groups ended lower, but offsetting declines was a 1.1 percent rise among technology stocks, mostly powered by Research In Motion, which was up 4.54 percent at C$61.70.

Soft commodity prices helped keep the pressure on the resource-heavy index, which saw the materials group retreat 0.48 percent.

Barrick Gold fell another 3.39 percent to C$49.84 after Tuesday’s 2.88 percent as gold prices extended their decline amid further profit-taking and a strong U.S. dollar.

Kinross Gold slipped 2.21 percent to C$17.74 while Goldcorp declined 1.26 percent to C$43.94.

The energy group pared earlier declines to finish down a modest 0.15 percent as oil prices bounced back above $90 a barrel on stronger than expected U.S. economic data.

The Toronto Stock Exchange’s S&P/TSX composite index finished down 6.32 points, or 0.05 percent, at 13,395.99.

“It’s awfully resilient, all things considered. We had a big run up to the end of the year and one would’ve thought we’d have a bigger selloff ... it’s come back a fair bit,” said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier.

In individual company news, Potash shares climbed 3.53 percent to C$161.50. The fertilizer giant was bolstered by strong quarterly profit from fellow producer Mosaic Co.

Reporting by Solarina Ho; editing by Rob Wilson

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