CANADA STOCKS-TSX little changed, gold miners rise

*TSX up 4.99 points at 11,533.24

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

By Jennifer Kwan

TORONTO, Aug 16 (BestGrowthStock) – Toronto’s main stock index was
little changed on Monday morning, getting support as gold
miners rose with strengthening bullion prices following
weaker-than-expected growth numbers from Japan.

The price of gold hit a seven-week high as investors
flocked to the safe-haven appeal of the precious metal after
data showed Japan’s economy grew just 0.1 percent in the second
quarter, well below forecasts. [GOL/] The data pressured Asian
equities and that weakness fed into European trading.
[MKTS/GLOB] For details, see [ID:nTOE67901S]

Barrick Gold (ABX.TO: ), the world’s No. 1 gold producer,
climbed 1.5 percent to C$45.44, while fellow miner Goldcorp
(G.TO: ) rose 1.6 percent to C$42.01.

At 10:22 a.m. (1422 GMT), the Toronto Stock Exchange’s
S&P/TSX composite index (.GSPTSE: ) was up 4.99 points at
11,533.24, with three of its 10 main sectors higher.

Concerns about the health of the global economy kept
investors in a cautious mood, however.

Toronto-Dominion Bank (TD.TO: ) was down 0.3 percent at
C$70.87, while Royal Bank of Canada (RY.TO: ) was 0.3 percent
lower at C$51.15.

“It’s carry-over from last week’s negative action. That’s
weighing stocks down,” said John Ing, president of Maison
Placements Canada, noting the market was largely flat due to
the “classic summer doldrums”.

Last week, the resource-heavy TSX index shed 2.3 percent as
investors fretted about the pace of recovery, fueled by
persistent worries about weaker growth in China and the United

($1=$1.04 Canadian)
(Reporting by Jennifer Kwan; editing by Peter Galloway)

CANADA STOCKS-TSX little changed, gold miners rise