CANADA STOCKS-TSX steady as gold miners slip, banks gain

Wed, 22 Jan - 2:06am
    * TSX eases 4.10 points, or 0.03 percent, to 13,986.19 
    * Six of the 10 main index sectors decline 
    * Barrick, Goldcorp slip on bullion price weakness 
 
    By John Tilak 
    TORONTO, Jan 21 (Reuters) - Canada's main stock index was 
little changed on Tuesday as a stronger U.S. dollar and 
speculation about what U.S. Federal Reserve will do with its 
stimulus program weighed on bullion prices and gold-mining 
shares, while the financial sector rose.  
    Chatter about the fate of U.S. central bank's bond-buying 
program resurfaced after a report that the Fed might again cut 
stimulus next week.  MKTS/GLOB  
    Investors were, however, encouraged by a move by China's 
central bank to inject cash into the banking system to try to 
ease a credit squeeze and calm markets.    
    Meanwhile, the market was also turning is attention to the 
U.S. and Canadian earnings seasons. 
    "People are going to zero in on earnings," said Irwin 
Michael, portfolio manager at ABC Funds. "We've had multiple 
expansions, but now we have to see the earnings come through."  
    Disappointing earnings could result in a temporary market 
correction, he added. "The market needs a bit of a healthy 
pullback before it moves up again." 
    The Toronto Stock Exchange's benchmark index, which is up 
about 2.7 percent this year, hit its highest in 2-1/2 years 
earlier in the session before falling back. At midmorning, the 
S&P/TSX composite index    was down 4.10 points, or 0.03 
percent, at 13,986.19.  
    Six of the 10 main sectors on the index were in the red. 
    Gold-mining shares gave back about 1 percent, reflecting a 
similar drop in the bullion price. The U.S. dollar strengthened, 
also dragging on the group.  GOL/   USD/  
    Barrick Gold Corp    slipped 2.3 percent to C$21.06 
and had the biggest negative influence on the index. Goldcorp 
Inc    fell 0.5 percent to C$25.71. 
    Financials, the index's most heavily weighted sector, added 
0.4 percent, with Bank of Nova Scotia    climbing 0.8 
percent to C$65.38 and Toronto-Dominion Bank    rising 0.5 
percent to C$99.21. 
    ($1=$1.098 Canadian) 
 
 (Editing by Peter Galloway) 
 ((john.tilak@thomsonreuters.com)(1-416-687-7918)(Reuters 
Messaging: john.tilak.reuters.com@reuters.net)) 
 
 
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Keywords: MARKETS CANADA/STOCKS   
     
URN: 
urn:newsml:reuters.com:20140121:nL2N0KV0US:3
Topics: 
STX FINS CMPNY CA PREC MINE MKTREP REP BANK BISV LEN RTRS MIN GDM BMAT BSVC FIN BNK MTAL AMERS

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